The signing of the Regional Comprehensive Economic Partnership (RCEP) is a notable success of the 37th ASEAN Summit, bringing both opportunities and challenges to Malaysia and Vietnam, according to a Malaysian expert.
The Malaysian government has allowed traders to hold unlimited cheap sales in a bid to fuel consumer spending, thereby boosting the country's economy amid the COVID-19 pandemic.
In the 25 years since Vietnam joined ASEAN, it has left a major imprint on the bloc thanks to its willingness, effort, responsibility, and contribution to overall achievements.
According to observers, Malaysia must cope with a sagging economy due to the impact of the global trade tension in 2019 and strive to find a foothold before the transfer of power scheduled next year.
Experts have stressed that the Asia-Pacific Economic Cooperation (APEC) forum plays an increasingly important role in ensuring a global system of free, open and equal trade amid rising protectionism.
ASEAN
XIII National Congress of Communist Party of Vietnam
