Last RCEP negotiation round opens in Da Nang

RCEP chief negotiators poised for family photo in the central Da Nang

Trade negotiators from ASEAN, China, Japan, the Republic of Korea, India, New Zealand and Australia will focus on the remaining issues related to market access, free trade, investment among others in order to reach a balanced and harmonized trade deal among the 16 countries.

Addressing the opening ceremony of the negotiating round, Vietnamese Minister of Trade and Industry Tran Tuan Anh highly valued the efforts by chief negotiators and staffs, thereby making substantial progress to the talks process.

He underlined the significant importance of the talks round in addressing the last technical issues before reporting to the senior leaders by this year’s end.

As the host, Viet Nam will make utmost efforts and coordinate with all countries toward the signing of the RCEP in 2020, Anh stressed.

RCEP member countries account for 47.4% of the global population, over 30% of the global GDP, 29.1% of global trade values and 32.5% of global investment flows.

Once signed, the RCEP will create the biggest free trade area in the world as the member countries account for 47.4% of the global population, over 30% of the global GDP, 29.1% of global trade values and 32.5% of global investment flows.

The deal is expected to give a strong boost to economic development in ASEAN countries.

RCEP countries launched negotiations in November 2012 and the first negotiation round was held in Brunei Darussalam in May 2013./.

By Huong Giang