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Friday, March 29, 2024

PH offers options on Asean trade deal

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The goal for a partial conclusion to the trade-in goods component of the proposed Regional Comprehensive Economic Partnership has prompted the Philippines, as host country to Asean 2017, to propose options to realize the objective.

Trade Secretary and Asean 2017 chairman Ramon Lopez said in an interview Tuesday the heads of Asean economies and dialogue partners were offered to either agree to liberalize at least 92 percent of their trade or agree to either the reciprocity approach or a possible 16-1 scheme.

“We need to, at least partially agree on the trade-in goods aspect of we want to move on with the negotiations. We’re hoping to end 2017 with a significant development on RCEP,” he said at the sidelines of the 2nd Asean Young Entrepreneurs Carnival held at the Philippine International Convention Center in Pasay City.

Nineteen meetings, so far, have been held on the RCEP but none had been close enough to reach at least a partial agreement. 

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