RCEP expected to be finalized by 2019

BANGKOK, October 8 (TNA) - Holding the alternate chairmanship of the 10-member Association of Southeast Asian Nations (ASEAN) for 2019, Thailand will try to finally wrap up talks on the Regional Comprehensive Economic Partnership (RCEP) by next year. Ronnarong Phoolpipat, Deputy Director-General of the Department of Trade Negotiations, under the Thai Ministry of Commerce, told journalists of the national target on October 7, acknowledging that all countries participating in the RCEP talks have all agreed to work together towards the successful conclusion of the new 16-member regional free trade agreement (FTA). Ronnarong, who has been assigned by his department's chief to take part in a special meeting of the RCEP negotiation committee, set to be held in Jakarta during October 7-9, made the remarks prior to his departure to the Indonesian capital. Ronnarong said that discussions at the three-day special meeting include the opening of trade in goods and trade in services, as well as the opening of investment among RCEP member countries. Besides, a review on the proposed opening of the key areas by the negotiation countries and rooms where countries involving in specific proposed issues meet for their further discussions have become part of the ongoing meeting. According to the senior Thai official, the negotiation countries have initially agreed on gradually cutting their import tariffs of up to 92 per cent of their trade in goods over the next 20 years and have been opened for raising their final proposals on the three key areas by October 15. The senior Thai official revealed that a report on the results of the three-day special meeting and the further review will then be submitted to a technical level-RCEP ministerial meeting, set to be held in New Zealand during October 20-27, the results of which will be later forwarded to this year's ASEAN Summit, set to be held in Singapore next month. "All the negotiation countries have set a common target on concluding their talks on the three key areas by this year and other remaining areas, including e-commerce and the protection of intellectual property rights, by next year when the RCEP has been anticipated for its complete conclusion by all the negotiation countries", the senior Thai official noted. The 16 RCEP negotiation countries include the 10 ASEAN member countries, namely Brunei Darussalam, Cambodia,Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, and the 10-member bloc's six dialogue partners, namely China, Japan, South Korea, India, Australia and New Zealand. (TNA)