RESTARTING NEW NEGOTIATION ROUND AFTER US LEFT TPP

26/07/2017, 17:00 PM

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

This is the first negotiation round when the goverment of President Donal Trump decided on the USleaving TPP last January and Washington has recently been promoting bilateral trade agreements instead of multilateral trade agreements.

The list of countries attending negotiation round includes 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 the TPP negotiation.

The countries attending the negotiation would like to finish negotiating on RCEP as soon as possible. However, the agreements are forecasted to be very difficult because of the different opinions on the key issues, such as scope of tariff within RCEP between Japan –the leading country   in the TPP negotiation and China, India – the countries do not attend tothe TPP negotiation.

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

Source: TTXVN

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