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HANOI, Vietnam (AFP) — Backed by China, the sprawling Regional Comprehensive Economic Partnership (RCEP) is seen as a coup for Beijing in extending its influence across the region and marks its dominance in Asian trade. After eight years of wrangling over the details, the trade pact — the world’s largest in terms of GDP, say analysts — was signed on Sunday. – What is RCEP? – Launched in 2012, RCEP is a trade pact […]
by Alice Philipson, with Martin Abbugao in Singapore Agence France Presse HANOI, Vietnam (AFP) — Fifteen Asia-Pacific countries on Sunday signed the world’s biggest free trade deal, seen as a huge coup for China in extending its influence. The Regional Comprehensive Economic Partnership (RCEP) includes 10 Southeast Asian economies along with China, Japan, South Korea, New Zealand and Australia, with members accounting for around 30 percent of global GDP. First proposed in 2012, the […]
by Alice Philipson with Martin Abbugao in Singapore HANOI, Vietnam (AFP) — Fifteen Asia-Pacific nations are set to sign an enormous free trade deal at an online summit that started Thursday, with the pact seen as a coup for China in extending its influence across the region. Once signed, the Regional Comprehensive Economic Partnership (RCEP) will be the world’s largest trade pact in terms of GDP, according to analysts. The pact, which was first proposed […]
by Thanaporn PROMYAMYAI / Dene-Hern Chen Agence France Presse BANGKOK, Thailand (AFP) — Southeast Asian leaders made an impassioned plea against protectionism at a regional summit in Bangkok Sunday, warning that a dragging US-China trade spat could hammer their export-led economies. Tit-for-tat tariffs between Washington and Beijing have cast a dark cloud over global growth forecasts and experts warn any drop-off in spending by the world’s two biggest economies is likely to hit Southeast Asia […]
BANGKOK, Thailand (AFP) — Southeast Asian leaders are eager to sign a sweeping China-led trade pact by the end of this year, Thailand’s prime minister said Friday, with further talks expected at a Bangkok summit on the world’s biggest commercial deal. Beijing is seeking to shape the rules of free trade across the Asia-Pacific, as America retreats from multilateral deals under US President Donald Trump. The China-crafted Regional Comprehensive Economic Partnership (RCEP) includes all […]
by Jenny Vaughan Agence France Presse BANGKOK, Thailand (AFP) — Southeast Asian leaders will dissect the impact of the US-China tariff war this weekend at a Bangkok summit, with Beijing determined to drive forward a trade pact sweeping in 40 percent of global commerce — but excluding America. Disputes in the flashpoint South China Sea and Myanmar’s treatment of Rohingya Muslims are also likely to make the agenda at the two-day Association of Southeast […]
(Eagle News) — President Rodrigo Duterte on Tuesday underscored the need for the implementation of a Regional Comprehensive Economic Partnership, noting that such could “provide size and scale to unleash new growth potentials and write the rules of the game of the international trade order.” In his speech at the start of the RCEP Summit, Duterte, who is this year’s ASEAN chair, said that “when it enters into force,” the RCEP would be “one of […]
CANBERRA, Australia (Reuters) — Asian TPP nations announced on Tuesday (January 24) they were looking for ways to save the multi-country trade pact in the wake of U.S. President Donald Trump’s decision to pull his country out of it. Fulfilling a campaign pledge Trump signed an executive order in the Oval Office on Monday (January 23) pulling the United States out of the 2015 TPP agreement and distancing the United States from its Asian allies. […]
