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Vietnam is taking final steps and scheduled to complete the ratification of the Regional Comprehensive Economic Partnership (RCEP) by November this year.

Trade between China and the Association of Southeast Asian Nations (ASEAN) has skyrocketed by 85 times since the two sides established their dialogue relations 30 years ago.

The ASEAN Secretariat together with the East Asia Business Council (EABC) recently hosted the “Unlocking RCEP for Business: Trade in Goods” webinar.

Minister of Foreign Affairs of Brazil Carlos Alberto Franco França recently hosted a reception for Ambassadors of members of the Association of the Southeast Asian Nations (ASEAN) in Brasilia.

The Thai Ministry of Commerce on May 17 said three State agencies of this country are speeding up issuance of related regulations to submit the ratification of the Regional Comprehensive Economic Partnership (RCEP) to the ASEAN Secretariat in October.

Singapore ratified the Regional Comprehensive Economic Partnership (RCEP) and deposited its ratification instrument on April 9, becoming the first participating country to complete the ratification process for the deal.

Challenges remain ahead in 2021, but Vietnam will overcome all with solidarity between the political system, businesses, and the people, Politburo member, head of the Party Central Committee’s Economic Commission, and Minister of Industry and Trade (MoIT) Tran Tuan Anh has said.

Vietnam among very few countries to post GDP growth rate of 2.5-3 percent, and the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement in 2020 when Vietnam assumes ASEAN Chairmanship are among the top 10 domestic economic events in the year.

Vietnam has managed to maintain its development orientations, while enjoying economic benefits from foreign partners such as the US and European Union (EU) member countries, according to Dinna Prapto Raharja from Binus University of Indonesia.

Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc, as Chairman of the East Asia Business Council (EABC) in 2020, recently handed over the EABC Chair to Hak-hee Jo, Executive Managing Director of the Korea International Trade Association.

The mammoth trade deal Regional Comprehensive Economic Partnership (RCEP) is expected to unlock more export markets for Vietnamese agricultural products, according to insiders.

Vietnam’s current leaders, including those to be elected by the 13th National Party Congress, want the country to play a greater role internationally and to step up proactive international integration, said Carlyle A. Thayer, an Emeritus Professor of Politics at the University of New South Wales in Australia.

The recently-signed Regional Comprehensive Economic Partnership (RCEP) agreement will create opportunities for Vietnam’s agricultural products to extend their reach in the region and the world, experts have said.

International economic integration was a bright spot in Vietnam’s external affairs activities in 2020, Deputy Minister of Foreign Affairs Bui Thanh Son has said.

The recently-signed Regional Comprehensive Economic Partnership (RCEP) presents both opportunities and challenges to Vietnamese businesses, making prompt action crucial to address existing weaknesses and capitalise on deal-generated advantages.

The COVID-19 pandemic has cast a long shadow and created uncertainty over the global economy. The signing of the Regional Comprehensive Economic Partnership (RCEP), however, offers a beacon of hope, as it marks a victory for multilateralism and free trade regionally and globally.

The recently-signed Cambodia-China Free Trade Agreement (FTA) and the Regional Comprehensive Economic Partnership (RCEP) free trade pact are expected to be a key driver to reboot Cambodia's economic growth in the post-COVID-19 era.

The Regional Comprehensive Economic Partnership (known as the RCEP), which was signed on November 15, is the largest free trade agreement in the world. While offering substantial opportunities to Vietnamese exporters, it will also make the competitive landscape even fiercer, both at home and abroad.

The commitment to market opening and tax incentives in the Regional Comprehensive Economic Partnership (RCEP) agreement will generate huge opportunities for Vietnam to increase its share in the 26 trillion USD market.

Vietnam has been depicted by foreign media as a bright spot among Asian economies thanks to the country’s success in balancing the efforts to protect the public health and maintain economic growth right from the beginning of the COVID-19 pandemic outbreak.