Ratification of Regional Comprehensive Economic Partnership by All Participating Countries

Debated in Parliament on 5 Oct 2021.

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Assoc Prof Jamus Jerome Lim asked whether the Ministry expects all RCEP participating countries to ratify the agreement before the ASEAN summit in Brunei and what main impediments remain for ratification.
Minister Gan Kim Yong stated that ratification depends on each signatory’s domestic processes and requires six ASEAN signatories and three ASEAN FTA partner signatories to deposit their Instruments of Ratification for the agreement to enter into force 60 days later.
Singapore, China, and Japan have already deposited their Instruments of Ratification, and the remaining signatories aim to ratify RCEP by the end of 2021 for entry into force in early 2022.

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Assoc Prof Jamus Jerome Lim

Assoc Prof Jamus Jerome Lim asked the Minister for Trade and Industry (a) whether the Ministry expects the Regional Comprehensive Economic Partnership (RCEP) to be ratified by all the participating countries before the annual ASEAN summit in Brunei; and (b) what main impediments remain for RCEP ratification by the participating countries.

Gan Kim Yong

The ratification of the Regional Comprehensive Economic Partnership (RCEP) Agreement is dependent on the respective domestic process of each RCEP signatory. The RCEP Agreement will enter into force 60 days after a minimum of six ASEAN signatories and three ASEAN FTA Partner signatories ratify the Agreement and deposit their respective Instruments of Ratification (IORs) with the ASEAN Secretary-General.

Apart from Singapore, the ASEAN Secretariat has notified RCEP signatories of the deposit of China’s and Japan’s IORs. Notwithstanding the complications arising from the COVID-19 pandemic, the remaining RCEP signatories have indicated that they are targeting to ratify the Agreement within 2021, with entry-into-force targeted for early 2022. We will continue to work closely with other RCEP signatories towards this.

Summary written by AI (learn more)

Assoc Prof Jamus Jerome Lim asked whether the Ministry expects all RCEP participating countries to ratify the agreement before the ASEAN summit in Brunei and what main impediments remain for ratification.
Minister Gan Kim Yong stated that ratification depends on each signatory’s domestic processes and requires six ASEAN signatories and three ASEAN FTA partner signatories to deposit their Instruments of Ratification for the agreement to enter into force 60 days later.
Singapore, China, and Japan have already deposited their Instruments of Ratification, and the remaining signatories aim to ratify RCEP by the end of 2021 for entry into force in early 2022.

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Ratification of Regional Comprehensive Economic Partnership by All Participating Countries | PAPERCUTS

Ratification of Regional Comprehensive Economic Partnership by All Participating Countries

Debated in Parliament on 5 Oct 2021.

Summary written by AI (learn more)

Assoc Prof Jamus Jerome Lim asked whether the Ministry expects all RCEP participating countries to ratify the agreement before the ASEAN summit in Brunei and what main impediments remain for ratification.
Minister Gan Kim Yong stated that ratification depends on each signatory’s domestic processes and requires six ASEAN signatories and three ASEAN FTA partner signatories to deposit their Instruments of Ratification for the agreement to enter into force 60 days later.
Singapore, China, and Japan have already deposited their Instruments of Ratification, and the remaining signatories aim to ratify RCEP by the end of 2021 for entry into force in early 2022.

Questions identified by AI (learn more)

Full Transcript

Assoc Prof Jamus Jerome Lim

Gan Kim Yong

Summary written by AI (learn more)

Assoc Prof Jamus Jerome Lim asked whether the Ministry expects all RCEP participating countries to ratify the agreement before the ASEAN summit in Brunei and what main impediments remain for ratification.
Minister Gan Kim Yong stated that ratification depends on each signatory’s domestic processes and requires six ASEAN signatories and three ASEAN FTA partner signatories to deposit their Instruments of Ratification for the agreement to enter into force 60 days later.
Singapore, China, and Japan have already deposited their Instruments of Ratification, and the remaining signatories aim to ratify RCEP by the end of 2021 for entry into force in early 2022.

Questions identified by AI (learn more)

Ratification of Regional Comprehensive Economic Partnership by All Participating Countries

Summary

Questions Identified

Full Transcript

Assoc Prof Jamus Jerome Lim

Gan Kim Yong

Summary

Questions Identified

Ratification of Regional Comprehensive Economic Partnership by All Participating Countries

Summary

Questions Identified

Full Transcript

Assoc Prof Jamus Jerome Lim

Gan Kim Yong

Summary

Questions Identified