Narrowing of Gaps in Latest Talks on RCEP Trade Agreement

(Yasmine Yahya – Straits Times)

Economic ministers from Asean and six other countries made good progress last week at the latest round of talks aiming to create the world’s largest trade pact, Trade and Industry Minister Chan Chun Sing said yesterday.

Mr Chan said the countries involved in the Regional Comprehensive Economic Partnership (RCEP) hope to reach a “substantial conclusion” on the trade deal by mid-November, when Asean holds its next summit.

The other signatories of the RCEP are China, Australia, New Zealand, Japan, India and South Korea.

“Good progress was made at this round, with most RCEP participating countries demonstrating flexibility by accommodating each other’s needs where possible,” he said.

“This resulted in the narrowing of gaps and paved the way forward for negotiators to engage on key outstanding issues. Broad agreement is in sight.” Click here to read more.