16 Countries to Hold RCEP Negotiations in Brunei

Source: KBS World Radio| Feb 14, 2016

Officials from 16 Asian countries will hold an eleventh round of negotiations for five days in Brunei from Monday as part of a proposed trade deal known as the Regional Comprehensive Economic Partnership(RCEP).

Ten members of the Association of Southeast Asian Nations and their six trading partners – South Korea, China, Japan, Australia, New Zealand and India – are participating in the RCEP.

These nations announced in November last year a joint statement pledging to wrap up negotiations by the end of this year on integration in trade, services and investments.

The trade deal, if reached, will create a 22-point-seven trillion dollar market, the second largest economic block after the market of the Trans-Pacific Partnership agreement.

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