Indonesian President Joko Widodo addresses a meeting of the IMF and WB (Photo: AFP/VNA) Hanoi (VNA) – Members of the Association of Southeast Asian Nations(ASEAN) have reaffirmed commitment to upholding the open and rules-based multilateraltrading system which has underpinned the countries’ economic growth during ameeting between ASEAN leaders.
Themeeting took place on October 11 in Bali, Indonesia, on the sidelines of the annual meetings ofthe International Monetary Fund (IMF) and the World Bank (WB).
SingaporeanPrime Minister Lee Hsien Loong stated that ASEAN will double efforts toconclude the Regional Comprehensive Economic Partnership (RCEP) - an important regional tradeagreement, by year-end.
The RCEP, comprising 10 ASEAN members and its six free tradeagreement partners, namely China, Australia, Japan, India, the Republic ofKorea and New Zealand, will be the world's largest trading bloc that coversnearly half of global population and 30 percent of the world's current annualgross domestic product.
Meanwhile,Indonesian President Joko Widodo underlined ASEAN’s determination to reduce thedisparity and development gap between members, ensuring no one is left behind.
Founded in 1967, ASEAN groups Brunei, Cambodia, Indonesia, Laos,Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.-VNA
