UNION
Minister for Investment and Foreign Economic Relations U Thaung Tun attended
the 9th Regional Comprehensive Economic Partnership (RCEP) Intersessional
Ministerial Meeting and related meetings held in Bangkok, Thailand on 11-12
October 2019. The minister was accompanied by the Director General of the
Foreign Economic Relations Department, U Than Aung Kyaw and senior officials of
the Ministry of Investment and Foreign Economic Relations.
At
the meeting, the ministers welcomed the significant progress of RCEP
negotiations and recognized that there remain a few outstanding issues. The
Ministers reaffirmed their determination to achieve the Leaders’ mandate to
conclude negotiations in 2019 and aim for a positive announcement to be made at
the 3rd RCEP Summit on 4 November 2019 in Bangkok, Thailand.
The
RCEP is regarded as a testament to an open trade and investment environment
that will further expand and deepen regional value chains for the benefits of
businesses. It will turn the region into a new center of growth and contribute
positively to the global economy, while serving as a supporting pillar to a
strong multilateral trading system.
The
RCEP trade pact is a proposed free trade agreement between 10 ASEAN Member
States and 6 of the partners-Australia, China, India, Japan, South Korea and
New Zealand. Up to date, 28 rounds of negotiations, seven regular ministerial
meetings and numerous intersessional meetings at ministerial and working levels
have been held.
The
RCEP when concluded will be one of the largest trading blocs. It will cover a
half of the world’s populations, account for 40 percent of the global trade and
around a third of the global GDP.
MNA
Photo
- MNA
Ref;
The Global New Light of Myanmar
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