Regional Comprehensive Economic Partnership (ASEAN+6)
In November 2019, India pulled out of the deal primarily through concerns of dumping of manufactured goods from China and agricultural and dairy products from Australia and New Zealand, potentially affecting its own domestic industrial and farming sectors.
The RCEP agreement is ready to be signed next month, and is expected to take effect in the second half of next year, said Auramon Supthaweethum, the director-general of Thailand’s Trade Negotiations Department.
Ministers from 15 Asia-Pacific countries negotiating a sprawling free trade agreement urged India on Wednesday to return to the talks as they are aiming to sign a deal by the end of the year, a Japanese official said.
Ministers from Asia-Pacific countries negotiating a sprawling free trade agreement will meet this week via videoconference as their year-end deadline for reaching a deal nears.
Dialogue partners look set to clinch the Regional Comprehensive Economic Partnership (RCEP) on Nov 14 in Vietnam, according to the trade negotiators’ chief.
Mongolia joins founding members Bangladesh, India, Laos, South Korea and Sri Lanka as well as China, its biggest trading partner.
India’s insistence on reviewing its free trade agreement (FTA) in goods with the ASEAN region may not be done as quickly as it hopes, as most of the Southeast Asian nations are reluctant to immediately start getting into the nitty gritty of negotiations.
With India, Australia and Japan intent on pursuing their arrangement in parallel, the road looks relatively clear for an RCEP accord in November. Even if there are still a few points of contention, the 15 countries may sign an "agreement in principle".
As the 15 RCEP members are preparing to sign an agreement this November in Vietnam, the Department of Trade Negotiations is explaining how to make the most of RCEP and deal advantageously with its impacts in terms of competition among farmers, entrepreneurs, and civil society.
Cambodia Prime Minister Hun Sen committed to gain an advantage in upcoming trade deals with China, South Korea, Japan and other nations.
Now most countries, particularly those in Southeast Asia, are not only facing the economic and social repercussions of a protracted outbreak but also witnessing emerging trends that will permanently change the way we live and do business.
The big reshoring question is still about how much foreign investment will shift from China due to a combination of rising production costs and more fractious diplomatic relationships.
Foreign Minister Toshimitsu Mogi from Japan confirmed that they will continue to cooperate towards the signing of the East Asian Regional Comprehensive Economic Partnership (RCEP) within the year.
The government is currently focusing on the RCEP negotiations before looking at other FTAs, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Ministers from 15 Asia Pacific countries resumed their negotiations to forge the Regional Comprehensive Economic Partnership (RCEP) last Thursday without the participation of India, which walked away from the sprawling free-trade agreement (FTA) last November.
Ministers from 15 Asia-Pacific countries negotiating a sprawling free trade agreement said they have made “significant progress” toward the signing of the deal in November.
The trade ministers of participating in talks on an Asia-wide free trade agreement are set to hold an online meeting, hoping to remove the final obstacles to a deal by the end of the year.
The Commerce Ministry will ask the cabinet for approval to sign the Regional Comprehensive Economic Partnership (RCEP) in October, one month ahead of the pact’s official scheduled signing in Vietnam.
The Regional Comprehensive Economic Partnership (RCEP) has entered the legal scrubbing phase and is expected to be signed soon without India.
Negotiations on the Regional Comprehensive Economic Partnership (RCEP) have entered the final stage of legal scrubbing and are set to be signed soon, with the exclusion of India.