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MOTIE attends 3rd RCEP Joint Committee meeting 2023-02-22

The Ministry of Trade, Industry and Energy (MOTIE) announced on February 21 that the 3rd Joint Committee meeting of the Regional Comprehensive Economic Partnership (RCEP), which is in its second year of coming into force, is held through February 20-22 via videoconferencing in the attendance of 40 persons consisting of its 15 member states’ delegation and the ASEAN Secretariat, with delegation heads of Co-Chairs Indonesia and Australia leading discussions on RCEP Secretariat management, economy and technology joint projects and implementation measures.

The Korean delegation agreed that swift establishment of implementation system and launching of four subcommittees are urgent, and requested that RCEP member states accelerate the pace of talks on critical minerals supply chain, digital and green trade, and cooperation in economy and technology, which are key areas of their economic cooperation.

Moreover, the delegation took note of Vietnam’s RCEP preferential tariffs application as of January this year as a result of the issue having been raised during the previous Joint Committee meeting, and called for concerted efforts of member states for fulfillment and utilization of RCEP agreement as a means to restore exports and investment.

MOTIE will continue to cooperate with member states to resolve difficulties facing companies and expand the RCEP’s contribution via the Joint Committee and communication channels to foster an environment that facilitates swift and smooth fulfillment of the RCEP agreement.