Singapore's Trade and Industry Minister Chan Chun Sing speaks before a signing ceremony of ASEAN Agreements at the ASEAN Summit in Singapore November 12, 2018. (Photo: Reuters)Singapore (VNA) - The Regional Comprehensive Economic Partnership (RCEP) remains ontrack to be signed by the end of 2020, said Singapore’s Trade and IndustryMinister Chan Chun Sing on May 3.
All RCEPnegotiators have agreed that it is important to sign the trade deal this yearto bolster the confidence of the global economy and the regional economy,especially in such a difficult moment, Chan told reporters during a virtualinterview.
Intensive virtualmeetings have been ongoing, he said, adding that no significant delays wereforeseen in the signing of the agreement.
He also saidCOVID-19 developments would have to be taken into account to see if the signingcould proceed in a meeting or in a different way.
The ministerfurther noted that an offer has been made to India to rejoin discussions in thecoming month.
If India isunable to rejoin the discussions in the coming month, then the plans willcontinue to proceed with the legal scrubbing for the preparation for the signingat the end of the year, he said.
The RCEP isset to be the world's largest trade pact, and involves 15 countries, includingall ten ASEAN nations, Australia, China, Japan, New Zealand, and the Republicof Korea. India withdrew from the deal last year./.
VNA
