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Jakarta Post

RI looks to sign RCEP this year to support economic recovery

  • Dzulfiqar Fathur Rahman

    Jakarta

Jakarta   /   Sat, June 27 2020   /  01:00 am
Trade Minister Agus Suparmanto.(Tempo.co/Subekti)

Indonesia and 14 other negotiating countries agreed Tuesday to sign the Regional Comprehensive Economic Partnership (RCEP) this year to help their economies recover from the pandemic-induced downturn. Iman Pambagyo, who has led the RCEP trade negotiating committee since 2013, said he expected the deal to be signed in November. Countries have so far agreed on the text of the agreement and almost completed the legal review of the text, called legal scrubbing. If signed, the trade deal, introduced at the ASEAN Summit in Cambodia in 2012, will create one of the world’s largest economic blocs, as the negotiating countries account for 30 percent of global GDP. “With respect to the COVID-19 pandemic, the finalization of the RCEP this year gives hope that economies in the region and around the world will recover, the regional supply chain will be strengthened and confidence ...