BANGKOK—President Duterte has raised alarm over the ongoing US-China trade war as it undermines the progress of the Southeast Asian countries, and called on the Association of Southeast Asian Nations (Asean) to fast-track its economic integration through the conclusion of the much-awaited mega free-trade deal, the Regional Comprehensive Economic Partnership (RCEP).
During the plenary session of the 35th Asean Summit on Saturday, the President said trade-related tensions and protectionism will not only pull down the countries’ economic growth but also have far-reaching consequences, particularly for food security in the developing world.
The member-states of the regional bloc, he said, must strengthen their economic integration to counter rising protectionism and trade tensions.
“We need an open and rules-based trading system to sustain growth. Thus, we should ensure the continued relevance and effectiveness of the World Trade Organization. And, Asean must accelerate deeper economic integration through concrete programs and projects, such as RCEP,” Duterte said.
Trade Secretary Ramon Lopez also told reporters on Saturday that the President’s directive is to have the RCEP concluded as soon as possible so that the country could already reap the benefits of being a party to the deal.
RCEP, seen to be one of the world’s largest free-trade deals, is negotiated by member-states of Asean, as well as Australia, China, India, Japan, New Zealand and South Korea.
Lopez earlier said the RCEP negotiations are set for a “preliminary conclusion” at the end of the third RCEP Summit, November 4, while its formal conclusion is eyed by February 2020. The signing of the landmark deal could happen during Vietnam’s hosting of the Asean Summit next year.
The trade secretary confirmed that a non-Asean country has yet to resolve its pending issues on the deal.
Despite this, he said the trade ministers are optimistic that these issues would be resolved soon and that the country would still be part of the RCEP deal.
The trade official also pointed out that no matter what happens to the US-China trade war, forging the RCEP deal for the countries involved would definitely be a “bright spot” amid uncertainties.
During the Asean Business and Investment Summit also on Saturday, Malaysian Prime Minister Mahathir Mohamad said Asean countries should also speak with one voice amid the ongoing trade war.
Mahathir said it is vital for all member-states to work together, especially when entering into international negotiations, since Asean is a big market for the whole world.
“If you want to be listened [to], you must be very powerful, strong or very rich, otherwise, nobody listens to you. If we function as a regional organization, as Asean, then we have more people to argue in our favor in forums, and when we have more people, we can attend all the meetings and express our views,” he said.
“But if you go alone, if Thailand goes alone, it will not be as strong as 10 Asean countries,” he added.
Meanwhile, Duterte also said Asean declarations and joint statements that aim to protect the people, especially the most vulnerable, are very much welcome.
For the greater direct benefit to certain sectors of the population, he said more measures are needed, such as the expansion of Mutual Recognition Agreements and the empowerment of women, migrant workers and persons with disabilities.
He also stressed that Asean must also harmonize its standards on nurses and other health-care professionals.
Image credits: AP/Aijaz Rahi
1 comment
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