PRC: the agreement on ASEAN free trade

If Changan, who is the assistant Minister of Commerce of China, at today's briefing said that progress has been made in negotiations on the Regional comprehensive economic partnership (RCEP). Of course, still not smooth and there are some tasks that need to be addressed.

 

RCEP stands for the Regional Comprehensive Economic Partnership, the essence of cooperation is the signing of the free trade agreement between the 10 members of ASEAN (Association of Southeast Asian Nations) and 6 partner countries.

The backbone of the ASEAN include:

  • Brunei;
  • Myanmar;
  • Cambodia;
  • Indonesia;
  • Laos;
  • Malaysia;
  • Philippines;
  • Singapore;
  • Thailand;
  • Vietnam.

Partner countries ASEAN:

  • Australia;
  • India;
  • China;
  • Japan;
  • South Korea;
  • New Zealand.

The Association in absentia competed with the TRANS-Pacific partnership, which previously involved the United States. After, If Changan said “the early completion of negotiations on the Regional comprehensive economic partnership (RCEP) will contribute to lasting stability, prosperity and development of the region.”

 

The fact that negotiations began in 2019, for all this time there were two leaders meeting, 18 Ministerial meetings and 28 rounds of negotiations. Further, If Changan said - “since the beginning of this year, following made in the course of the second meeting of the leaders of the consensus, we've made tireless efforts to conduct the relevant negotiations, and we managed to achieve significant progress”.

 

Chen Xiaodong is the assistant Minister of foreign Affairs of China, he very vehemently defends the policy of “promoting regional economic integration.” In a recent interview with Xiaodong said “relevant countries are currently committed to the early conclusion of negotiations on the RCEP, that is, the creation of a free trade zone covering the largest population and most rapidly developing economy that will give a powerful impetus to regional trade, facilitate investment and contribute to the prosperity of the Asia-Pacific region”.

28 October, 2019
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