Talks on RCEP eyed to be concluded by end of 2018

BANGKOK, July 23 (TNA) - Thailand and other countries participating in negotiations on the establishment of the Regional Comprehensive Economic Partnership (RCEP), which is a new regional free trade (FTA) agreement, have agreed on attempts to conclude their talks by the end of this year and to establish the 16-nation RECP as soon as possible thereafter. Ronnarong Phoolpipat, Deputy Director-General of the Department of Trade Negotiations, under the Thai Ministry of Commerce, told journalists of the update on July 22, noting that the agreed attempts were voiced by the 5th RCEP Ministerial Meeting, held in Tokyo early this month. Ronnarong said he was, thus, assigned to head the Thai negotiation team during the ongoing 23rd panel-level RCEP meeting and related forums, held in Bangkok during July 17-27, in which about 800 delegates from all 16 relevant countries are participating, including those from 10 member countries of the Association of Southeast Asian Nations (ASEAN) and six dialogue partners, namely China, Japan, South Korea, India, Australia and New Zealand. Ronnarong revealed that the delegates also include representatives of the private sector and non-governmental organizations (NGOs) from relevant sectors, including agriculture, health, women's rights and e-commerce, who are welcome to express and exchange their opinions and proposals. According to the senior official, Thailand expects that three major remaining issues should be initially concluded during the ongoing Bangkok round on the RCEP establishment, including customs procedures, sanitary and phytosanitary criteria and technical regulations, as well as other pending issues, in order that the results would be forwarded to the 6th RCEP Ministerial Meeting in Singapore next month and further to this year's ASEAN Summit and related forums in November when the RCEP negotiation process should be formally concluded as targeted. Meanwhile, the Thai government has a clear policy on supporting the establishment of the 16-nation RCEP to become a new tool on promoting and expanding trade and investment in the region, as well as becoming a bargaining power mechanism against world major economies amid a trend of growing global trade protectionist tit-for-tat measures currently. (TNA)