Vietnamese delegation to8th RCEP Intersessional Ministerial Meeting

The Vietnamese delegation made several proposals to solve outstanding difficulties in negotiations towards the target of completing negotiations bythe end of this year. 

Participants agreed to strive for the completion of negotiations on market opening and all the most important content of the deal's wording by the end of 2019 while intensifying efforts towards the signing of the deal in 2020 in Vietnamwhen it assumes the role as the ASEAN Chair.

At the meeting, ministers stressed that trade remains an effectivetool to generate jobs and income, and foster productivity, technologydevelopment, and sustainable and inclusive growth.

The RCEP region, which accounts for 47.4 percent of the worldpopulation, 29.1 percent of global trade and 32.5 percent of investment flows,plays an important role in regional trade and backs an open, inclusive andrule-based trade system.

Delegates welcomed the conclusion of negotiations on Appendixes onTelecoms, Financial and Professional Services, while acknowledging positiveprogress in negotiations of remaining issues.

On the sidelines of the meeting, the Vietnamese delegation heldbilateral meetings with officials from the Republic of Korea, Japan andAustralia to discuss directions to solve bottlenecks in negotiations and boostbilateral cooperation.

Initiated in 2012, RCEP is a free trade agreement involving 10 ASEANmember countries, namely Brunei, Cambodia, Indonesia, Laos, Malaysia,  Myanmar, the Philippines,Singapore, Thailand and Vietnam; and the ASEAN's six dialogue partners - China, Japan, Australia, New Zealand, India and the Republic ofKorea.-VNA