VGP – The last round of talks for Regional Comprehensive Economic Partnership (RCEP) involving 10 ASEAN member States and six partners opened in the central city of Da Nang this morning. 

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 made 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.