Tokyo — Asian trade ministers have taken another step towards what could be the world’s biggest trading bloc, expressing hope that a deal could be signed by the end of 2018. Ministers from the 16-nation Regional Comprehensive Economic Partnership (RCEP), which includes China, Japan and India but not the US, met in Tokyo on Sunday to thrash out remaining differences. "The path towards a year-end agreement is now clearer," said Hiroshige Seko, Japan’s trade minister at a media conference on Sunday. "As protectionism concerns increase globally, it’s important that the Asian region flies the flag of free trade." If fully achieved, the partnership would also include the 10 members of the Association of Southeast Asian Nations as well as South Korea, Australia and New Zealand, covering one-third of the world’s economy and almost half its population. While the agreement does not seek to impose higher standards in areas such as labour and environmental protection, like the 11-nation Compreh...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.