16 nations give up concluding RCEP talks by year-end

November 13, 2017

Manila- Ministers from Japan, China, South Korea and 13 other nations on Sunday confirmed their intention to give up concluding their negotiations on the proposed Regional Comprehensive Economic Partnership free trade pact by the end of this year.

The ministers made the confirmation at a meeting in Manila. The 13 other countries are Australia, New Zealand, India and the 10 members of the Association of Southeast Asian Nations--Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

At a press conference after the meeting, Japanese Minister of Economy, Trade and Industry Hiroshige Seko admitted that many hurdles need to be cleared although the countries made certain progress in the negotiations.

At the moment, it is very difficult to wrap up the talks by year-end, he added.

Seko said that leaders from the 16 countries are expected to issue some sort of statement on the timing of concluding the RCEP negotiations after their meeting in the Philippine capital on Tuesday.

In the previous ministerial meeting in September, the 16 countries agreed to make their utmost efforts to produce significant outcomes by the end of 2017 while effectively abandoning the goal of concluding the talks within the year. Jiji Press