The Trade Negotiating Committee for the Regional ComprehensiveEconomic Partnership (RCEP) has issued a joint statement on the firstround of negotiations between ASEAN and its six free trade agreementpartners.
Officials of 10 ASEAN member states and six partners,namely Australia, China, India, Japan, the Republic of Korea and NewZealand, conducted detailed negotiations on the RCEP in Brunei on May9-13, aimed to complete the RCEP by the end of 2015, according to theASEAN Secretariat’s press release.
The RCEP negotiations willtarget for a modern, comprehensive, high-quality and mutually beneficialeconomic partnership agreement, establishing an open trade andinvestment environment in the region to facilitate the expansion ofregional trade and investment and contribute to global economic growth,said the press release.
They will also aim to boost economicgrowth and equitable economic development, advance economic cooperationand broaden and deepen integration in the region through the RCEP, whichwill build upon our existing economic linkages, it added.
Negotiations for the RCEP will recognise ASEAN centrality in theemerging regional economic architecture and the interests of ASEAN’s FTApartners in supporting and contributing to economic integration,equitable economic development and strengthening economic cooperationamong the participating countries.
The RCEP will havebroader and deeper engagement with significant improvements over theexisting ASEAN+1 FTAs, while recognising the individual and diversecircumstances of the participating countries.
The RCEP willinclude provisions to facilitate trade and investment and to enhancetransparency in trade investment relations between the participatingcountries, as well as to facilitate their engagement in global andregional supply chains.
Taking into consideration thedifferent levels of development of the participating countries, the RCEPwill include appropriate forms of flexibility including provision forspecial and differential treatment, plus additional flexibility to theleast-developed ASEAN member states, consistent with the existingASEAN+1 FTAs, as applicable.
The second round of RCEP negotiations is scheduled for September 23-27 in Australia.-VNA
Officials of 10 ASEAN member states and six partners,namely Australia, China, India, Japan, the Republic of Korea and NewZealand, conducted detailed negotiations on the RCEP in Brunei on May9-13, aimed to complete the RCEP by the end of 2015, according to theASEAN Secretariat’s press release.
The RCEP negotiations willtarget for a modern, comprehensive, high-quality and mutually beneficialeconomic partnership agreement, establishing an open trade andinvestment environment in the region to facilitate the expansion ofregional trade and investment and contribute to global economic growth,said the press release.
They will also aim to boost economicgrowth and equitable economic development, advance economic cooperationand broaden and deepen integration in the region through the RCEP, whichwill build upon our existing economic linkages, it added.
Negotiations for the RCEP will recognise ASEAN centrality in theemerging regional economic architecture and the interests of ASEAN’s FTApartners in supporting and contributing to economic integration,equitable economic development and strengthening economic cooperationamong the participating countries.
The RCEP will havebroader and deeper engagement with significant improvements over theexisting ASEAN+1 FTAs, while recognising the individual and diversecircumstances of the participating countries.
The RCEP willinclude provisions to facilitate trade and investment and to enhancetransparency in trade investment relations between the participatingcountries, as well as to facilitate their engagement in global andregional supply chains.
Taking into consideration thedifferent levels of development of the participating countries, the RCEPwill include appropriate forms of flexibility including provision forspecial and differential treatment, plus additional flexibility to theleast-developed ASEAN member states, consistent with the existingASEAN+1 FTAs, as applicable.
The second round of RCEP negotiations is scheduled for September 23-27 in Australia.-VNA
