Strong momentum to conclude RCEP

At the bilateral meeting between Prime Minister Hun Sen and his counterpart, Tun Dr. Mahathir Mahamad, this week in Phnom Penh, both sides reasserted their political commitment to conclude the Regional Comprehensive Economic Partnership (RCEP) as soon as possible.

Also, at the bilateral meeting between Vietnamese Prime Minister Nguyen Xuan Phuc and Australian Prime Minister Scott Morrison in Hanoi late last month, both leaders shared the view that RCEP need to be concluded this year.

Now the political momentum is high that RCEP will be concluded by the end of this year, but with some tough compromises needed. The negotiation process has been quite slow and rocky due to the differences between the dialogue partners of ASEAN.

“With a bit of a political commitment from all sides, we can probably just cross the finishing line some time by the end of this year, if not the early part of next year,” said Singapore Trade and Industry Minister Chan Chun Sing.

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