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View all search resultsRCEP negotiators pick up pace amid TPP's imminent collapse
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Deal or no deal: A protester holds signs demonstrating against the Trans-Pacific Partnership (TPP) free trade deal during a rally in Lima, Peru, on Nov. 18. (AP/Esteban Felix)
T
rade officials from 16 Asia-Pacific countries kicked off Tuesday the 16th round of meetings to discuss the proposed Regional Comprehensive Economic Agreement (RCEP) that would integrate markets of the region with a potential combined annual income of US$21.4 trillion.
RCEP Trade Negotiating Committee chief Iman Pambagyo said the biggest task in the ongoing round of negotiations, which would take place at the Indonesia Convention Exhibition (ICE) in Tangerang until Friday, was to find "the right balance" between the interests of ASEAN trading partners that had no prior free trade deals within the region.
“We are working on it. It requires great flexibility by all parties to best accommodate their interests and sensitivities,” said Iman, who also serves as the Trade Ministry's director general for trade negotiations.
RCEP, which is backed by China and involves six key ASEAN partners--Australia, China, India, Japan, South Korea and New Zealand--has been seen as a counterweight to the United States-led Trans-Pacific Partnership (TPP). The latter is likely to collapse following the victory of Republican candidate Donald Trump, a supporter of a protectionist trade stance, in the recent US presidential election.
Asserting its economic leadership in the region, China has said it aims to speed up RCEP talks to see an early conclusion. (hwa)
