In a video speech at the ceremony, Malaysian Prime Minister Ismail Sabri Yaakob said that he expected the Regional Comprehensive Economic Partnership (RCEP) to "serve as an integral tool to navigate our region to a path of recovery and growth in the near future."

The RCEP, the world's largest free-trade deal, was signed last year by 15 Asia-Pacific countries, including ASEAN's 10 member states and China. It is widely deemed a massive move for regional economic integration, multilateralism and free trade.

"This agreement (RCEP) provides immense opportunities to bolster regional supply chains and businesses to diversify production networks that are imperative for seamless integration into the global economy," said Ismail Sabri.