The fifth ministerial meeting after the implementation of the Regional Comprehensive Economic Partnership (RCEP) was held in Manila, Philippines

On September 21st, the fifth ministerial meeting after the implementation of the Regional Comprehensive Economic Partnership (RCEP) was held in Manila, Philippines. Vice Minister of Commerce Yan Dong attended the meeting and delivered a speech.

At the meeting, all parties exchanged in-depth views on the regional and global economic situation, as well as the future development direction of RCEP, reaffirming their commitment to an open, free, fair, and rule-based trade framework. All parties unanimously agree that in the current context, we should work together to strengthen the implementation of the RCEP agreement, deepen trade and investment links among members, and continuously enhance regional economic resilience. All parties welcome the establishment of new members for Bangladesh, Chile, Hong Kong, and Sri Lanka to join the working group and promote the RCEP expansion process. They will also work on developing the RCEP upgrade "Joint Scope Document" and look forward to announcing the launch of the RCEP upgrade process at the RCEP Ministerial Meeting in 2027.

Yan Dong stated in his speech that the current trend of unilateralism and protectionism is surging, the growth momentum of the world economy is insufficient, and the uncertainty faced by the development of various economies continues to rise. All parties should adhere to multilateralism, uphold the concept of openness and inclusiveness, accelerate the expansion process of RCEP, expand and strengthen the regional cooperation platform, actively promote the upgrading of the agreement review, further unleash the potential of regional cooperation, and inject stronger impetus into regional and global economic growth.

Related link: Joint Media Statement of the Fifth Ministerial Meeting after the Implementation of the Regional Comprehensive Economic Partnership (RCEP)