President says Sri Lanka will apply for RCEP membership

26 May 2023 05:52 am - 8 - {{hitsCtrl.values.hits}}

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Says with RCEP Sri Lanka aims to achieve higher level of economic liberalisation

Ranil Wickremesinghe addressing the Nikkei Forum

In an effort to become more integrated in global trade, Sri Lanka will apply for membership to the Regional Comprehensive Economic Partnership (RCEP), President Ranil Wickremesinghe announced yesterday.

By entering into a free trade agreement with the Asia Pacific nations, the island nation aims to achieve a higher level of economic liberalisation.

Wickremesinghe made the announcement in Tokyo, Japan this week while addressing the ‘Nikkei Forum: Future of Asia’ where he shared the island nation’s approach to the Indian Ocean and Asia-Pacific regions.

With the RCEP, Sri Lanka will be able to reap the benefits of entering into an agreement with 10 ASEAN countries and six other countries in the Asia Pacific region.

The RCEP member countries are Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, India, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.

Sri Lanka will be able to boost trade and investment in the region as the RCEP is the world’s largest FTA in terms of GDP.

“Sri Lanka is committed to multi layered connectivity in the Indo-Pacific. Furthermore, we also support Prime Minister Kishida’s Principles for Peace and Rules for Prosperity,” he told the forum.

President Wickremesinghe went on to point out that Sri Lanka welcomes the G7s announcement that they are prepared to build a stable and constructive relationship with China for which Japan pledged its commitment.

“We appreciate this cooperative approach of Japan and give it our full support. It is crucial for the emergence of a peaceful and prosperous Asian region. We also support a dialogue between all Asian nations,” he said while adding that Sri Lanka is of the view that Japan, China, India, and ASEAN, should commence an open-ended dialogue amongst themselves and thereafter with the other Asian countries.

“This is the first step in establishing a new framework for peace and cooperation in Asia,” he stressed.

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Comments - 8

Suhada malli Friday, 26 May 2023 08:45 AM

President must start walking the talk. In every short period of time he was running the country he said far sighted and right things but was terribly poor at achieving results. Country needs an impatient and task oriented Prime Minister like how JR had RP because RW is weak in delivery. Very good in vision and planning

Jeya Friday, 26 May 2023 09:36 AM

Great move sir. We should look at whether we can join ASEAN also. our SAARC is dead and non-functional.

Jude Friday, 26 May 2023 10:03 AM

You can apply for RECP membership, but they're not gonna accept. Coz SL one of the most corrupted countries in the world. Moreover, politicians corrupted to the core, yeah.

VJ Friday, 26 May 2023 10:22 AM

Asia is prosperous, we are not, they worked hard to achieve progress. Bangladesh is a good example. Our people are lazy, jealous, corrupt, dishonest and untrustworthy.

Perera GLJ Friday, 26 May 2023 10:38 AM

Good move, unlike delivery to Uganda. Include BRICS constituents as well. But RW desperately need the services of newly elected competent ministers to support him in making this a reality for the benefit of the people.

down under Friday, 26 May 2023 12:44 PM

so many head line grabbing utterances whilst the same corrupt practices and corrupt MP's persist. No action taken or i have not seen him punishing a single one. Just keep rewarding the corrupt and their corrupt practices. Just all talk.

Sirilatha Pahalagedara Friday, 26 May 2023 05:05 PM

You must go without pants as the 99% cabinet are corrupted and thieves!! Only thieves are supposed by you!!

Logeswaran Saturday, 27 May 2023 09:07 PM

This is the right direction

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President says Sri Lanka will apply for RCEP membership

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