Singapore opposes any attempts that threaten freedom of navigation: Vivian Balakrishnan
Singapore's Foreign Affairs Minister also warned about the impact of reining in trade liberalisation in his speech at the 10th Delhi Dialogue.
(Updated: )
Ricky Lim
On the Regional Economic Cooperation Partnership, Dr Balakrishnan said finalisation of the trade pact is important, given the rising trend of global protectionism.
He urged ASEAN nations and India to move quickly to seal the trade pact.
"Specifically, we need to work towards the conclusion of the Regional Comprehensive Economic Partnership, and hopefully to do so by the end of this year."
He added: “Given the headwinds that we currently face in the global trade environment, we are all better off together as one.
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There are more and more urgency for mega multi-lateral deals such as the RCEP to be signed and ratified quickly - given the huge adverse impact of global trade war looming.
RCEP will help to stabilise, mitigate and cushion the impact of the global trade war - by facilitating more trade, business and investment in Asia Pacific - a vibrant growing region.
He urged ASEAN nations and India to move quickly to seal the trade pact.
"Specifically, we need to work towards the conclusion of the Regional Comprehensive Economic Partnership, and hopefully to do so by the end of this year."
He added: “Given the headwinds that we currently face in the global trade environment, we are all better off together as one.
--
There are more and more urgency for mega multi-lateral deals such as the RCEP to be signed and ratified quickly - given the huge adverse impact of global trade war looming.
RCEP will help to stabilise, mitigate and cushion the impact of the global trade war - by facilitating more trade, business and investment in Asia Pacific - a vibrant growing region.
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Ricky Lim
More give and take will be required to get RCEP into shape and to get it ratified.
Global trade war will affect and adversely impact everyone - no one Countries will be spare.
Thus there are more urgencies for each RCEP members to look at common interests and play down differences - to sign and ratify the RCEP as soon as possible.
Cooperate - will bring mutual beneficial prosperity.
Play up the differences - will result in more argument and conflict --- and will impede the progress of getting the RCEP signed - that will hurt everyone.
Global trade war will affect and adversely impact everyone - no one Countries will be spare.
Thus there are more urgencies for each RCEP members to look at common interests and play down differences - to sign and ratify the RCEP as soon as possible.
Cooperate - will bring mutual beneficial prosperity.
Play up the differences - will result in more argument and conflict --- and will impede the progress of getting the RCEP signed - that will hurt everyone.
LikeReply1m
Ricky Lim
Ricky Lim
If the RCEP is approved, it would create one of the world's largest free-trade zones.
The RCEP countries make up 46% of the global population and are worth 24% of global GDP.
RCEP is the world's largest economic bloc, covering nearly half of the global economy.[5] According to estimates by PwC, the Gross Domestic Product (GDP, PPP) of RCEP member states is likely to amount to nearly $250 trillion by 2050, or a quarter of a quadrillion dollars, with the combined GDPs of China and India making up more than 75% the amount. RCEP's share of the global economy could account for half of the estimated $0.5 quadrillion global GDP (PPP) by 2050.
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See the tremendous Economic benefits of RCEP ----- it will definitely able to cushion the impact of the global trade war.
Most of the Asia Pacific region Countries are involved in the RCEP - a truly inclusive Economic multi-lateral trade deals to bring prosperity to almost everyone in the Asia Pacific region ---- to bring prosperity and wealth to everyone --- which will be a good "Peace making tool" - that will prevent conflict, confrontation or geopolitical jostling from escalating.
The RCEP countries make up 46% of the global population and are worth 24% of global GDP.
RCEP is the world's largest economic bloc, covering nearly half of the global economy.[5] According to estimates by PwC, the Gross Domestic Product (GDP, PPP) of RCEP member states is likely to amount to nearly $250 trillion by 2050, or a quarter of a quadrillion dollars, with the combined GDPs of China and India making up more than 75% the amount. RCEP's share of the global economy could account for half of the estimated $0.5 quadrillion global GDP (PPP) by 2050.
---
See the tremendous Economic benefits of RCEP ----- it will definitely able to cushion the impact of the global trade war.
Most of the Asia Pacific region Countries are involved in the RCEP - a truly inclusive Economic multi-lateral trade deals to bring prosperity to almost everyone in the Asia Pacific region ---- to bring prosperity and wealth to everyone --- which will be a good "Peace making tool" - that will prevent conflict, confrontation or geopolitical jostling from escalating.
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