Li Keqiang Attends the Fourth RCEP Summit

Chinese Premier Li Keqiang attended the fourth Regional Comprehensive Economic Partnership (RCEP) Summit, which was held via video link, at the Great Hall of the People in Beijing, on November 15, 2020.

“The signing of the RCEP is not only a monumental achievement in East Asian regional cooperation, but more importantly, a victory of multilateralism and free trade,” Li said.

With the largest participating population in the world, the most diverse membership and the greatest development potential, the free trade bloc will strongly advance the overall recovery process of the regional economy, inject new impetus into regional development and prosperity, and act as an important engine for driving global economic growth, Li said.

The RCEP will help realize a highlevel opening-up for trade in goods and services, as well as investments, among regional countries, greatly lift the level of regional trade and investment liberalization and facilitation, and strengthen the attractiveness and competitiveness of the region, according to Li.

Leaders of the RCEP member states spoke highly of the formal signing of the agreement, believing it stands as a historic and significant milestone. Especially in the context of the severe impact of COVID-19 on the world economy, RCEP, as the largest mega free trade agreement, will strongly promote regional prosperity and stability, bring hope to speeding up world economic recovery in the POST-COVID-19 era, help foster an open world economy, and boost trade and investment liberation and facilitation.

After the summit, Li and leaders of other countries attended the signing ceremony of the RCEP.

The RCEP includes the 10 ASEAN members and the bloc’s five FTA partners of Australia, China, Japan, New Zealand, and the Republic of Korea.