Leaders at the third Regional Comprehensive Economic Partnership (RCEP) Summit (Photo: VNA)Bangkok (VNA) – Thailand is expecting the signing of the Regional ComprehensiveEconomic Partnership (RCEP) to go forward this year as the COVID-19 is presenting no hurdles for the trade deal, the negotiations of which can besped up through video conferencing.
Local mediaquoted Ronnarong Phoolpipat, Commerce Ministry Chief Inspector-General andchief negotiator of RCEP for Thailand, as saying the pandemic is expected to hamper already-delayed RCEP negotiations because scheduled meetings werecancelled to follow travel ban lockdown measures in member state countries.
However, recenttrade negotiations and meetings via video conference were surprisinglyefficient and helpful, he said.
Trade negotiatorshave completed many negotiation issues during the past two months, the official said, adding that it is faster and saves time andcosts.
The pandemicbrings a new normal situation to trade negotiations, he noted.
He said RCEP dialoguepartners are reviewing legal texts and expect the process to finish in July sothe pact can be signed later in the year during the ASEAN Summit.
The RCEP is aproposed free trade agreement between the 10 ASEAN member states and sixdialogue partners – China, Japan, the Republic of Korea, India, Australia, andNew Zealand. India withdrew from the deal last year./.
VNA
