Regional Meeting: Dialogue between RCEP and CPTPP member countries

A Myanmar delegation led by U Aung Kyaw Hoe, Union Minister for National Planning, Investment and Foreign Economic Relations, attended a dialogue between member countries of the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), held in Suzhou of China, on 22 May.

The dialogue was held with the aims of supporting the multilateralism and free trade among the member states of the agreements, maintaining a transparent, inclusive and rules-based multilateral trading system, and ensuring the stability of industrial and supply chains.

China International Trade Representative Vice Minister for Commerce Mr. Li Chenggang delivered the opening remarks.

During the session, the Ministers discussed matters pertaining to the support of multilateralism and free trade, the maintenance of an open, inclusive and rules-based multilateral trading system, and enhanced stability of industrial and supply chains.

Furthermore, they exchanged views on the implementation of the RCEP and CPTPP agreements, along with future development strategies and the development of regional cooperation.

During the discussion, Union Minister U Aung Kyaw Hoe stated that Myanmar firmly supports an open and rules-based multilateral trading system.

He emphasized that despite economic sanctions imposed on Myanmar by certain countries, Myanmar recognizes that greater benefits can be achieved through regional cooperation within the multilateral trading system, which could expand trade opportunities and strengthen economic resilience.

He further emphasized that Myanmar’s actions are primarily economically oriented and free from political motives. He also highlighted that to achieve a balanced and stable trade environment, exporting and importing countries should implement tariff policies that are fair and mutually beneficial. He added that trade can be further enhanced among countries by maintaining reasonable tariff rates.

Furthermore, the Union Minister stressed the need to prioritize and promote cooperation in trade and investment facilitation, as well as in areas such as the digital economy and green economy for future development. He also highlighted the importance of enhancing communication between the RCEP and CPTPP members to strengthen regional integration.