Asean leaders to speed up progress in RCEP

22 Nov 2015 / 17:25 H.
    Asean leaders to speed up progress in RCEP
    Prime Minister Datuk Seri Najib Abdul Razak delivers his speech during the 10th East Asia Summit in conjunction with the 27th Asean Summit 2015 at Kuala Lumpur Convention Centre on Nov 22, 2015. Also present is Foreign Minister Datuk Seri Anifah Aman (L) and International Trade and Industry Minister Datuk Seri Mustapa Mohamed (R). BERNAMA

KUALA LUMPUR: Asean leaders plan to speed up progress for the Regional Comprehensive Economic Partnership (RCEP) given its important role in achieving closer economic integration.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the pressure to achieve progress in the RCEP was building up given the fact that negotiations for the Trans-Pacific Partnership Agreement (TPPA) was concluded last month.
"There is a lot of pressure to achieve progress in RCEP given as China is not in the TPPA. It is important to have China in any major trade deal.
"Asean leaders will convene in Laos for the Asean Economic Ministers' Meeting in March 2016 to discuss the RCEP's progress," he told a press conference here today.
The RCEP is a proposed free trade agreement (FTAs) between the 10 member states of Asean and the six states with which Asean has existing FTAs namely Australia, China, India, Japan, South Korea and New Zealand.
Its conclusion, expected next year, would contribute significantly to regional and global economic integration, provide for equitable economic development and strengthen economic cooperation. — Bernama

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