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Asean 'confident' RCEP done by year's end

07/10/2019

Optimistic despite Malaysia's u-turn, Japan-South Korea spat

Asean Secretary-General Lim Jock Hoi on Sunday expressed his confidence that the long-awaited Regional Comprehensive Economic Partnership (RCEP) will be completed in principle before Thailand's chairmanship ends at the end of this year.

The secretary-general said that despite Malaysia's recent decision to backtrack on its commitment to the deal and the growing trade spat between Japan and South korea, he remains optimistic that RCEP negotiations will continue as planned.

"This is the seventh year of negotiations, and I'd like to see it concluded," he told reporters on Sunday at the 8th ERIA Editors’ Roundtable on Asean Vision 2040: Towards Bolder and Stronger Asean Community.

The event was co-hosted in Bangkok by the Economic Research Institute for Asean and East Asia (ERIA) and Bangkok Post.

"More importantly, against the backdrop of trade tension and uncertainties in the global market, we [Asean] are determined to get it done, despite the last-minute issues that were raised by some members," he said.

The secretary-general remained adamant, saying that the regional partnership scheme is "doable".

"We should take a pragmatic approach. Given the significant progress in Da Nang, we have to do what we can to resolve and finalise [the negotiations] by the end of this year," he said.

“Of course, we are not 100% done. Perhaps we need a few more months to fine tune some areas. At least we will [conclude the RCEP negotiations] in principle.”

Source: Bangkok Post