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Thailand hopes for RCEP negotiation conclusion in November

Sixteen nations under the Regional Comprehensive Economic Partnership (RCEP) agreement have vowed to conclude negotiations on the free trade agreement by the end of this year, said Thai Commerce Minister Jurin Laksanawisit.
Thailand hopes for RCEP negotiation conclusion in November ảnh 1Deputy Prime Minister and Commerce Minister Jurin Laksanawisit (Source:https://www.bangkokpost.com)

Bangkok (VNA) – Sixteen nationsunder the Regional Comprehensive Economic Partnership (RCEP) agreement havevowed to conclude negotiations on the free trade agreement by the end of thisyear, said Thai Commerce Minister Jurin Laksanawisit.

Speaking after the RCEP Ministerial Meeting inBangkok on October 12, Jurin said there are only 20 days to get things donebefore the next meeting among leaders of RCEP member countries, which willagain be held in Bangkok on November 4.

He said he is confident that allparticipants to the RCEP, which comprises 10 ASEAN member nations plus China,Japan, the Republic of Korea, India, Australia and New Zealand , will be ableto reach a deal to reduce trans-boundary trade barriers by early November.

The outcome of the negotiationswill be announced by leaders of RCEP member countries at the RCEP Summit onNovember 4 within the framework of the 35th ASEAN Summit and relatedmeetings, he noted.

Trade negotiators from the 16 countries have locked horns over issuesconcerning the pact's 20 chapters for several years. Six remaining chaptershave yet to be agreed on, including trade competition rules, and measures tomitigate the negative side-impacts of RCEP.

Free trade has been a sensitive issuethroughout the RCEP negotiations. Once the RCEP comes to effect, the agreementwill create a market covering nearly half of the world's population, or about3.5 billion people./.
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