Regional Comprehensive Economic Partnership (RCEP)

Regional Comprehensive Economic Partnership (RCEP) 29/07/2015 02:24:00 1152

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Regional Comprehensive Economic Partnership (RCEP) is a free-trade agreement (FTA) comprising ten member nations of ASEAN and six other countries with which ASEAN has existing FTAs (Australia, China, India, Japan, South Korea and New Zealand) and is expected to conclude before 2015, toward the target of building on the East Asia Free Trade Agreement (EAFTA) and introduced the Comprehensive Economic Partnership in East Asia initiatives. The first round of negotiation was launched during the ASEAN Summit 2011 in Indonesia, and started the negotiation during the ASEAN Summit 2012 in Cambodia.

Until now, seven rounds of official negotiation and many inter-sesstional meetings have been completed, toward the target to complete the negotiations directed by ASEAN Leaders and six joining negotiation partners. However, the negotiation process was not reached as many different points of opinions between countries, especially between partner nations under major fields which are commercial products, services and investments related to import-tariff cut, negotiation approach

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