An overview of the meeting (Source: VNA)Hanoi (VNA) – Ministers from 16 Asia-Pacific countries met in SiemReap, Cambodia on March 2 to negotiate the Regional Comprehensive Economic Partnership(RCEP) in the context of forecasts that participating sides are yet to narrowgaps related to tax and other matters.
Representatives from the 10 ASEAN countries and their six partners (Australia,China, India, Japan, the Republic of Korea and New Zealand) will discuss a freetrade agreement for half of the world population which account for 30 percentof global GDP and trade.
At a meeting in late 2018, those countries’ representatives went home withoutreaching any deal. India showed its caution about tax removal as it worriedthat prices of goods imported from China will sharply increase.
The Cambodia media said at the Siem Reap meeting, the Japanese delegation hopedthe negotiations will reach progress in financial service and other fields thatsee few differences in order to pave the way for the conclusion of negotiationsfor this free trade agreement.
RCEP comprises the 10 ASEAN member countries and six nations which ASEAN hassigned free trade agreements with including Australia, China, India, Japan, theRepublic of Korea and New Zealand. It was ever expected to be signed before2015, towards the goal of forming the East Asia Free Trade Agreement (EAFTA)and kick-starting the Comprehensive Economic Partnership for East Asia(CEPEA).-VNA
VNA
