Rcep

Delegates to the meeting (Source: VNA) Singapore (VNA) – Ministers from 16 countries of the Regional Comprehensive Economic Partner (RCEP) adopted a joint statement in Singapore on August 31. In the joint statement, the ministers assessed the developments since the 5th RCEP Intersessional Ministerial Meeting on 1 July 2018 in Tokyo, Japan, including the outcomes of the 23rd round of negotiations held on 17-27 July 2018 in Bangkok, Thailand. They also provided guidance on specific issues elevated by the Trade Negotiating Committee and exchanged views on the next steps toward the conclusion of negotiations. They welcomed the conclusion of two additional chapters at the 23rd round of negotiations, namely the Chapters on Customs Procedures and Trade Facilitation and Government Procurement, bringing the total concluded chapters to date to four. The ministers adopted a Package of Year-End Deliverables developed by the Trade Negotiating Committee, and welcomed the plans to … [Read more...] about RCEP negotiations expected to be concluded this year

Singaporean Prime Minister Lee Hsien Loong. (Source: AFP/VNA) Singapore (VNA) - Negotiations for the Regional Comprehensive Economic Partnership (RCEP) have reached a “critical stage” and a conclusion is “finally in sight”, said Prime Minister Lee Hsien Loong on August 29. In his opening speech at the 50th ASEAN Economic Ministers’ Meeting (AEM) and related meetings on August 29, strengthening regional economic cooperation and integration is key for ASEAN to fully realise its potential.  This includes pressing on with the implementation of the ASEAN Economic Community (AEC) Blueprint 2025, as well as supporting an open and inclusive multilateral system amid growing trade conflict, he said. The Singaporean PM noted that escalating trade tensions between the US and its key trading partners have put the rules-based multilateral trading system, which has underpinned ASEAN’s growth and prosperity, under pressure. Each ASEAN member state is … [Read more...] about Singapore PM: RCEP negotiations likely to be concluded this year

Singaporean Prime Minister Lee Hsien Loong (Photo: channelnewsasia.com) Singapore (VNA) – Singaporean Prime Minister Lee Hsien Loong expressed his hope that the Regional Comprehensive Economic Partnership (RCEP) will be signed by the end of this year. RCEP involves the 10 ASEAN member countries as well as China, India, Japan, the Republic of Korea, Australia and New Zealand. It is poised to become the largest free-trade agreement in the world, covering about half of its population. In his opening speech at the 51st ASEAN Foreign Ministers Meeting (AMM-51) on August 2, PM Lee said Southeast Asian countries are redoubling their efforts to conclude the deal by the end of the year. He admitted that negotiations will be not easy, especially in the context of the growing mood of nationalism and protectionism in many countries. "The rules-based multilateral trading system, which has underpinned ASEAN's growth and prosperity, is under pressure," he warned, stressing it is … [Read more...] about RCEP hoped to be signed by year-end

RoK Minister of Strategy and Finance Kim Dong-yeon (L) holds a meeting with Philippine Finance Secretary Carlos Dominguez in Seoul on June 4, 2018 (Source: Yonhap) Hanoi (VNA) – The Republic of Korea (RoK) and the Philippines have agreed to further expand economic cooperation and work together for an early conclusion of the Regional Comprehensive Economic Partnership (RCEP). In a meeting on June 4 with Philippine Secretary of Finance Carlos Dominguez, RoK Minister of Strategy and Finance Kim Dong-yeon highly evaluated the Southeast Asian country's massive infrastructure development projects, affirming that Seoul will actively support such projects through extended financial help. The two ministers shared the view that bilateral trade should be further extended, and agreed to work together to accelerate the process of signing the RCEP, a proposed major trade deal between 10 members of the Association of Southeast Asian Nations (ASEAN) and the six countries with which ASEAN … [Read more...] about RoK, Philippines agree to accelerate RCEP conclusion