Professor Chi Fulin Attended Sub-Forum on “Unlocking Greater Potential of Regional Free Trade Agreements”

On the morning of March 26, the sub-forum titled “Unlocking Greater Potential of Regional Free Trade Agreements” was held as part of the Boao Forum for Asia Annual Conference 2025. Professor Chi Fulin, President of CIRD, was invited to attend and participate in the session.

Professor Chi Fulin emphasized the need to “look beyond Asia to view the world, beyond the short term to see the long term, beyond ASEAN to view the broader region, and beyond immediate challenges to understand the role of RCEP”. First, in the context of U.S. tariff pressures and global uncertainties, RCEP stands out as the world’s largest, most equitable, and most promising free trade area. Second, from a trend perspective, the upcoming signing of China-ASEAN Free Trade Area 3.0 and potential breakthroughs in China-Japan- the Republic of Korea (ROK) FTA negotiations present significant opportunities for RCEP. Third, if RCEP expands to include Hong Kong, Chile, Sri Lanka, and other economies, it could evolve from a regional to a cross-regional free trade arrangement. Moreover, by aligning with organizations such as the Shanghai Cooperation Organization (SCO) and the Gulf Cooperation Council (GCC), RCEP could further amplify the impact of free trade. The key lies in achieving consensus among RCEP member countries.

This session was moderated by Zhang Yuyan, Member of the Chinese Academy of Social Sciences. Other participants included Raden Mohammad Marty Muliana Natalegawa, Former Foreign Minister of Indonesia; Ong Tee Keat, President of the Belt and Road Initiative Caucus for Asia Pacific (BRICAP), Malaysia; Chheng Kimlong, President of the Asian Vision Institute (AVI), Cambodia; and Kim Heungchong, Professor by Special Appointment at Korea University and Former President of the Korea Institute for International Economic Policy (KIEP).