Ismail Sabri highlights RCEP’s role in boosting Asia-Pacific growth

PETALING JAYA: Former prime minister Ismail Sabri Yaakob has highlighted the Regional Comprehensive Economic Partnership’s (RCEP) immense potential as a catalyst for economic growth, innovation and connectivity in the Asia-Pacific region.

Ismail was given the opportunity to deliver the closing address at the China-RCEP Forum in Shanghai, China, yesterday.

“Through our discussions, we have explored critical themes such as trade facilitation, supply chain resilience, digital transformation and sustainable development.

“These are not just abstract ideas but actionable priorities that will define the next chapter of China-Asean collaboration,” he said.

He also said the progress made in these areas will have a direct impact on businesses, communities and economies across the region.

The RCEP is the world’s largest free trade agreement, comprising 15 countries in the Asia Pacific region.

Its members include 10 Asean nations, including Malaysia, as well as five regional partners – China, Japan, South Korea, Australia and New Zealand.

Ismail said in the first three months of this year, exports to RCEP countries comprised 29% of Malaysia’s total exports, reaching around RM203 million.

“This statistic emphasises the agreement’s ability to reduce the risks linked to reliance on a single region.”

Ismail said by enhancing trade ties within Asia Pacific, Malaysia not only shielded itself from potential supply disruptions but also created new possibilities for diversifying exports and enhancing industrial collaboration.

He said RCEP enhances access to expansive markets such as China, which has a population of 1.41 billion, as well as Indonesia, with its 275 million population.

“Therefore, this economic integration can significantly benefit all of us as it deals with the complexities of global trade, in the context of instability in the Middle East and Eastern Europe.”

In a Facebook post, Ismail said at the forum he also witnessed the signing of two memoranda of understanding involving Malaysian firms Ireef Farmpool Sdn Bhd, Naturale Recreation Management Sdn Bhd, Malaysian Aquaculture Group Holdings Berhad and Chinese firm Hainan Zhanyu Biotechnology Co Ltd.