Singapore: Nations have political will to finalise RCEP in 2018
Countries engaged in negotiations over the RCEP have a “strong political will” to conclude the talks by the end of 2018, Singaporean Minister of Trade Lim Hng Kiang said.
RCEP nations agree to conclude the deal this year (Source: EPA/VNA)
Hanoi (VNA) - Countries engaged in negotiations overthe Regional Comprehensive Economic Partnership (RCEP) have a “strong politicalwill” to conclude the talks by the end of 2018, Singaporean Minister of TradeLim Hng Kiang said.
The talks on the RCEP were launched in 2012 and are expectedto create a free trade area with billions of consumers.
The ten-member Association of Southeast Asian Nations (ASEAN)is participating in the negotiations along with Australia, China, India, Japan,New Zealand and the Republic of Korea.
The RCEP and the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP), which is expected to be signed on March 8 inChile, offered “pathways” toward an eventual free trade agreement in theAsia-Pacific, said Lim.
With the signing of the CPTPP, one of the pathways willbecome operational, Lim said, following a two-day meeting of ASEAN economicministers.
The RCEP participating countries are conscious that theyshould try and conclude the RCEP negotiations so that all the Asia-Pacificeconomies can participate, he commented.
The RCEP is considered an extended trade agreement of the ASEAN nations andtheir partners, which together account for 50 percent of the global populationand 39 percent of the world’s gross domestic product (GDP).-VNA
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RCEP nations agree to conclude the deal this year (Source: EPA/VNA) 
