RCEP to send strong political signal about multilateral trading if signed this year: Indonesian official
If the Regional Comprehensive Partnership (RCEP) Agreement could be signed this November, it will send a “clear” and “very strong political signal” about multilateral trading in the context of COVID-19, said an Indonesian official.
Iman Pambagyo, Director General of International Trade Negotiations at the Trade Ministry of Republic of Indonesia and Chief of the RCEP Trade Negotiating Committee of ASEAN, speaks to a Vietnam News Agency reporter in Indonesia. (Photo: VNA)
Jakarta (VNA) – If the Regional Comprehensive Partnership (RCEP) Agreement couldbe signed this November, it will send a “clear” and “very strong politicalsignal” about multilateral trading in the context of COVID-19, said anIndonesian official.
Whilethe multilateral trading system is being questioned by many countries, manygovernments and communities, “we minutes to seal the deal and to confirm ourintention to expand and deepen our economic articulation,” Iman Pambagyo,Director General of International Trade Negotiations at the Trade Ministry ofRepublic of Indonesia and Chief of the RCEP Trade Negotiating Committee ofASEAN, told Vietnam News Agency.
The dealwill enter force perhaps two or three years; but at this point in time, this isa way for the sides to address sensitivities that they may have during thenegotiations, he said.
Imanoutlined one of the challenges to the signing of the deal is to “find a balanceof interests among system countries”.
“So wemanaged to come to this point where only a few, very few issues need to besettled for this month in July, and I'm quite confident that we can sign thisagreement in November and become one of the major Vietnam's deliverables thisyear.”
He went onto note that the RCEP will facilitate better the movement of goods, people and capitals in Asia, so Indonesia will benefits from the RCEP as much as othercountries, suggesting that moving forward digital economy will be an area where Indonesia andVietnam can partners to develop the sector and to capture the part of marketsin RCEP in particular.
“Anotherarea could be manufacturing, but it was specifically in the area of automotivesectors,” he said, adding that the two countries can also cooperate inagriculture and food processing.
The official also appreciatedthe chairmanship of Vietnam this year to lead ASEAN "in this very challengingtime”./.
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Iman Pambagyo, Director General of International Trade Negotiations at the Trade Ministry of Republic of Indonesia and Chief of the RCEP Trade Negotiating Committee of ASEAN, speaks to a Vietnam News Agency reporter in Indonesia. (Photo: VNA)
