Chinese Premier Li Keqiang attended the releasing ceremony of a joint statement on the Regional Comprehensive Economic Partnership (RCEP) negotiations in Kuala Lumpur International Convention Center on the morning of November 22. It was attended by the leaders of ten ASEAN countries, ROK, Japan, Australia, New Zealand and India. Malaysia’s Prime Minister Najib Razak announced the content of the statement.

The joint statement pointed out that the leaders of the RCEP countries welcomed the substantive progress in negotiations. RCEP is of great significance to improve the regional people’s living standard and to drive the regional economic development. As an important way for the regional economic integration, RCEP is conducive to stepping up the equitable economic development and consolidating economic connection among all countries. The leaders required the delegation teams to pick up the pace and to strive to complete the negotiations in 2016.

The RCEP negotiations officially started in May 2013. Ten rounds of negotiations and four trade and economic ministers meetings have been held so far, aiming to reach a modern and comprehensive free trade agreement with high quality and mutually beneficial results. With half of the world’s population, RCEP membership countries almost take up one third of the world’s GDP, trade value and absorption of FDI. The RCEP negotiation is the largest FTA negotiation in Asian region at present and is also one with the largest amount of participants, the largest scales and the profoundest influences that China has ever engaged in.