Asian-Pacific ministers admit no RCEP agreement by year-end
Economic ministers from 16 Asian-Pacific countries acknowledged on September 10 that no agreement on the Regional Comprehensive Economic Partnership (RCEP) will be finalised by year-end.
The RCEP is viewed as an extended trade agreement of ASEAN with its partners (Source: asean.org)
Hanoi (VNA) - Economic ministers from 16 Asian-Pacific countries acknowledgedon September 10 that no agreement on the Regional Comprehensive EconomicPartnership (RCEP) will be finalised by year-end. Theministers involving in negotiating RCEP, an alternative trade pact to thefloundering Trans-Pacific Partnership (TPP) pact in Manila, the Philippines, saidthey will strive to make major progress by November when the leaders of the 16nations meet in Manila. TheRCEP is the only option given the current negotiations of the TPP, saidPhilippine trade undersecretary Ceferino Rodolfo. TheRCEP participating countries abandoned the target of concluding thenegotiations within this year due to differences in tariff reduction orelimination targets as well as services to be opened up, according to Rodolfo. Those16 nations are China, Japan, India, the Republic of Korea, Australia and NewZealand, and the 10 Association of Southeast Asian Nations members. TheRCEP is viewed as an extended trade agreement of ASEAN with its partners,covering half the world’s population, and 30 percent of global gross domesticproduct (GDP). - VNA
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Philippine Secretary of Trade and Industry Ramon Lopez on May 8 urged negotiators of the Regional Comprehensive Economic Partnership (RCEP) to speed up talks, reaffirming the need to conclude the free trade deal this year.
The third Inter-sessional Ministerial Meeting of the Regional Comprehensive Economic Partnership (RCEP) opened in Hanoi on May 22, with the aim to speed up negotiations seeking to finalise the regional trade pact.
Singapore and China will try their best to expedite talks on the Regional Comprehensive Economic Partnership (RCEP), Singaporean Foreign Minister Vivian Balakrishnan told reporters in Beijing on June 12 after meeting with his Chinese counterpart Wang Yi.
Malaysia’s Minister of Industry and International Trade Mustapa Muhamed said on August 10 that the country is pushing negotiations on the Regional Comprehensive Economic Partnership deal.
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In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
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International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
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Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
The new halal cooperation arrangement will streamline halal certification and product assurance processes, making it easier for New Zealand exporters to access the Indonesian market.
The RCEP is viewed as an extended trade agreement of ASEAN with its partners (Source: asean.org) 
