22nd ASEAN summit promoting RCEP among members

Members of ASEAN have agreed in the 22nd ASEAN Summit in Brunei Darussalam that they will set up regional comprehensive economic partnership (RCEP) to prepare ASEAN to compete economically on the world stage.

The recent summit, which was held on April 25th , in Brunei has seen the rise of economic, social, culture and stability cooperation among members as the arrival of ASEAN Economic Community (AEC) is only a few years away.

They want the cooperation set up as soon as possible, particularly in the area of regional stability and politics. The ASEAN members are expected to participate in a joint military practice in June, while it establishing for the first time humanitarian coordination in the areas of public health and natural disaster management.

In may, they will enter talks in preparation for the establishment of RCEP, which is aimed at increasing the competitive edge of ASEAN against rival economies.

In terms of social and cultural cooperation, Brunei has proposed that ASEAN citizens and investors be able to travel across the region with fewer restrictions in order to promote regional integration among different peoples of different backgrounds.

April 30, 2013

Source: Thai Financial Post