Regional Comprehensive Economic Partnership (ASEAN+6)
In the wake of the successful signing of the world’s largest trade deal - RCEP that encompasses a third of the global economy, a higher level trilateral free trade agreement(FTA) among China, Japan and South Korea is likely to be reached sooner than expected.
Seeing the pact as a vital tool for economic recovery and growth, Thai ministry expects free trade among RCEP members to start by the middle of next year, following almost eight years of talks.
RCEP is a threat to people’s rights. Thus, it is imperative that the people push back the neoliberal narrative of RCEP and confront the corporate dictates over economic and political policies.
Fifteen countries will sign a mega-trade deal at the ASEAN conference this weekend imposing secretive restrictions on how governments help workers through the pandemic, trade union leaders and parliamentarians have warned.
Even as the new agreement between ASEAN nations and its free trade partners establishes the largest trading bloc in the world, it is vehemently being opposed by labor unions, trade justice groups and women’s movements
Fifteen Asia-Pacific economies signed what could become the world’s largest free trade agreement on Sunday, covering nearly a third of the global population and about 30% of its global gross domestic product.
India will avoid joining agreements which are actually trade pacts by stealth with China and instead explore trade agreements with developed countries with large markets such as the US and EU where Indian products and services would be competitive unlike ASEAN.
Trade-dependent Taiwan has made relatively good progress towards joining the revamped version of the Trans-Pacific Partnership, but it is awaiting clearer rules on membership, the island’s chief trade negotiator said.
Women’s movement from Asia and the Pacific is angered by the decision of ASEAN and its five trading partners to sign RCEP. The trade agreement will cover 30% of the world’s population and women farmers, women workers and women-led small enterprises will be the worst hit from this trade agreement.
Fifteen countries have formed the world’s largest trading bloc, covering nearly a third of the global economy. The RCEP is made up of 10 Southeast Asian countries, as well as South Korea, China, Japan, Australia and New Zealand.
An Asia-Pacific trade deal backed by China could hurt small scale farmers, cause more land conflicts, and leave workers in poorer nations without protection as they struggle to deal with the COVID-19 pandemic, human rights groups said on Friday.
In a webinar held on 10th November, economic experts, business owners, civil society organisations and parliamentarians expressed their concerns about RCEP, a mega free trade agreement which is likely to be signed on November 15, 2020.
As the 10 ASEAN countries and their 5 trading partners get ready to sign the anti-people trade deal, the countries must conduct social and human rights impact analysis on RCEP before signing or ratifying it.
Labour unions in Asia Pacific condemn this outcome and will continue working with our affiliates and allies to intervene in the enactment, ratification and implementation process of RCEP.
Ministers from 15 countries in the Regional Comprehensive Economic Partnership agreed Wednesday to sign the long-awaited trade deal at a summit Sunday, leaving the door open for reluctant India to return later.
China is expected to sign a mega regional trade deal with 14 other countries in the Asia-Pacific region this weekend, wrapping up a major agreement before the next United States administration comes into office.
Japan will exempt its key farm products including rice and wheat from being subject to tariff cuts or elimination in a mega regional trade deal between Asia-Pacific countries including China, a draft of the agreement showed Tuesday.
In a major speech on Wednesday, Chinese President Xi Jinping talked up his country’s plans for playing a greater role in global trade, without mentioning ongoing tensions with the US.
Minister of Trade Agus Suparmanto attended a virtual ’special caucus’ meeting of 10 ASEAN Economic Ministers discussed status of the RCEP draft and consolidated ASEAN countries’ position in preparation for the signing of RCEP agreement in this year.
This study casts serious doubt on earlier more optimistic projections of projected gains and shows that the case for proceeding with the RCEP without India’s participation is even less convincing.