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China and these 15 countries are going to do one big thing, not including the United States


Release:2018-11-13   Edit:Admin   From:Rising steel grating

 The 33rd asean summit and east Asia cooperation leaders' meeting series will open in Singapore on the 13th.The leaders of the asia-pacific and southeast Asian nations during the meeting will push for the regional comprehensive economic partnership (RCEP) to be implemented as soon as possible to counter rising us protectionism, AFP reported.China, Japan, India and other asia-pacific countries may announce a broad agreement on the RCEP, the report said.Reuters also reported on November 11 that China is actively promoting RCEP.

 

Complete RCEP is expected within the year.It is expected to be completed within this year.(nihon keizai shimbun)

The RCEP was first initiated by the ten asean countries, including China, South Korea, India, Australia, New Zealand and Japan, but excluding the United States.The agreement would cover half the world's population and one-third of the global economy.

 

RCEP is considered to be highly inclusive and does not force the opening of all areas.Public opinion holds that compared with some free trade agreements with high standards, RCEP, an arrangement that respects differences among all parties under the common goal, guarantees the right of participation of developing countries and is easily accepted by all parties.Under the new situation of counter globalization and rising trade protectionism, the conclusion of RCEP would be a new path to effectively deal with global uncertainties.

 

Why does China attach so much importance to the agreement?Luo yongkun, an associate researcher at the China institutes of contemporary international relations, told scidev.net that RCEP was initiated by asean and has always been promoted by asean.In recent years, the pact has received strong support from Japan.China has also welcomed the agreement and played an active role in advancing it.

 

Luo believes that through the summit, the parties' consultations on RCEP are expected to achieve further results and work towards the final signing of the agreement in 2019.Previous discussions on the pact have been dominated by Japan's high standards for the pact and the issue of market openness in India and Indonesia.However, since 2015, countries have reached consensus on many aspects, which has laid a solid foundation for the agreement.

 

 

 

According to Reuters on oct 23, Indonesia's trade minister said talks over the RCEP had been completed "" 80-85 per cent" "and a deal could be signed in early 2019.Japanese media reported earlier that during prime minister modi's visit to Japan, Japan once again suggested India to work together to realize RCEP as soon as possible.

 

Luo said that if the RCEP can be finally promoted and signed, it will further increase the consensus between China and other countries in the asia-pacific region, especially on jointly promoting multilateralism.At the same time, the signing of the agreement means that both sides will take concrete actions to defend the international multilateral system after reaching consensus.This will not only open a new channel for cooperation between China and asia-pacific countries, but also provide a new opportunity for closer bilateral relations, which will provide strong support for the establishment of the ftaap in the future.