Delegates at the talks (Source: Kyodo)Hanoi (VNA) – Senior officialsfrom 16 Asia-Pacific countries met in Kobe, Japan on February 27 for the nextround of negotiations on the Regional Comprehensive Economic Partnership (RCEP).
The RCEP member nations include the 10 ASEAN member nations and six dialoguepartners, namely China, India, Japan, the Republic of Korea, Australia, and NewZealand.
This is the first round of RCEP negotiationssince President Donald Trump pulled the US out of the Trans-PacificPartnership.
Delegates are discussing tariffs in the new economic zone and how advancedcountries will assist emerging economies, common rules on investment and e-commerce.
Iman Pambagyo, director general ofinternational trade negotiations at Indonesia’s Trade Ministry and chair of themeeting, said the talks on the RCEP are key to establishing regional free tradeagreements and contributing to promoting global trade.
RCEP negotiations kicked off in 2012. The members are estimated to account for 29percent of the global trade, or 9.5 trillion USD. In the framework of RCEP, themembers hope to eliminate 80 percent of tariffs. The rate will be 92 percent amongASEAN nations.
After 16 rounds of negotiations, theparticipating countries have so far agreed on fields of economic andtechnological cooperation and assistance to small- and medium-sizedenterprises.
The talks will continue through March 3.-VNA
VNA
