RESTARTING NEW NEGOTIATION ROUND AFTER US LEFT TPP

26/07/2017, 17:00 PM

February 27, senior officials from 16 Asian-Pacific countries attending negotiation of Regional Comprehensive Economic Partnership (RCEP) began new negotiation round at Kobe (Japan), disscussed about free trade area initiative considered to replace Trans-Pacific Partnership Agreement (TPP).

This is the first negotiation round when the goverment of President Donal Trump decided US to leave TPP last January and Washington has recently been implusing bilateral trade agreements instead of multilateral agreements.

The countries attending negotiation include 10 countries being members of Association of Southeast Asia Nations (ASEAN) together with Australia, China, India, Japan, New Zealand and Korea. There are 7 countries of them attended negotiation of TPP.

The countries attending the negotiation would like to complete negotiation about RCEP as soon as possible. However, the agreements are forecasted to be very difficult because of dissimilarity about key issusses, such as tariff's scope of RCEP between Japan - the country leads in negotiating TPP and China, India – the countries do not attend to negotiate TPP.

According to Kyodo News Agency, some Japanese officials also hope that US will come back TPP and warn government of Prime Minister Shinzo Abe that should not only focus on RCEP agreements, but also should focus on senior bilateral economic conversations started from the recently negotiations between Mr. Abe and Mr. Trump.

Source: TTXVN

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