In a statement issued Monday night, the Ministry of Finance and Economy (MoFE) said Brunei deposited the instrument of ratification with the ASEAN Secretary-General on October 11.
“Brunei Darussalam’s timely ratification of the RCEP agreement signals our strong commitment to support the region’s post-pandemic recovery efforts, strengthening our economic and trade linkages, creating new opportunities for our businesses as well as support for an open, inclusive, rules-based multilateral trading system,” the ministry said.
The ASEAN-led trade agreement includes all 10 members states, as well as five of its major trading partners: Australia, New Zealand, Japan, China and Korea.
The 15 member countries account for about 30 percent of the world’s population and 30 percent of global GDP (US$26.2 trillion), making it the biggest trade bloc in history.
Date of Release: 12 October 2021
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October 29, 2021
