Ministers of the sixteen participating countries of the Regional Comprehensive Economic Partnership agreement expressed optimism that the biggest trade deal will soon be concluded in November this year.
The ministers gathered during the 8th RCEP Inter Sessional Ministerial Meeting to resolve some key issues and provide guidance to the trade negotiators on how to move forward in concluding the negotiations.
“Significant progress had been made in key chapters such as market access and investments, and some issues affecting the speed of the negotiation had been addressed” said Trade Secretary Ramon Lopez.
“Parties are more pragmatic in the spirit of wanting to reach conclusion. We are seeing more flexibility and they are mindful of the sensitivities of each country taking into account the level of its economic development,” added.