The recently formed Regional Comprehensive Economic Partnership (RCEP) complies with existing rules of the World Trade Organization (WTO) and could be beneficial to international trade, Chinese Premier Li Keqiang said during a video conference with chiefs of key international economic organizations, including the WTO, the International Monetary Fund (IMF) and the World Bank, on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 24th November, 2020) The recently formed Regional Comprehensive Economic Partnership (RCEP) complies with existing rules of the World Trade Organization (WTO) and could be beneficial to international trade, Chinese Premier Li Keqiang said during a video conference with chiefs of key international economic organizations, including the WTO, the International Monetary Fund (IMF) and the World Bank, on Tuesday.
"The RCEP is connected with the existing rule under the WTO and is complimentary to other regional trade arrangements. It is a useful supplement to multilateral trade and could help boost economic globalization and free trade," Li said.
The RCEP is an open and tolerant mechanism and is not restricted to the 15 countries that signed the trade pack, Li stressed.
Earlier this month, 15 countries in the Asia-Pacific region, including China, Japan, South Korea, Australia and ASEAN member states, signed the RCEP, which was expected to boost regional trade and economic growth.
