RCEP Ministerial Meeting Focus on reducing tariffs starting in Thailand September 8th 20:03
RCEP = East Asian Regional Comprehensive Economic Partnership Ministerial Meeting is held in Thailand, with 16 countries including Japan, China and India participating. The focus is on how far we can go with the remaining issues, such as tariff reductions, to conclude negotiations within the target year.
RCEP's ministerial meeting started in Bangkok, Thailand after 6pm Japan time, and Japan's Minister of Economy, Trade and Industry attended.
“At the beginning of the meeting, Thailand's Deputy Prime Minister and Commerce Minister Turin said,“ As tensions from trade friction increase, we need to proceed with RCEP negotiations. ”
RCEP aims to realize a huge economic zone with 16 countries in Asia Pacific, such as Japan, China, India, and South Korea, accounting for 50% of the world population and 30% of GDP = GDP.
Out of approximately 20 negotiation fields, financial services and customs procedures have been concluded in about half so far, and more than two-thirds of customs negotiations have been completed.
In this meeting, in addition to e-commerce and investment rulemaking, it seems that the remaining tariffs are being handled, but India is cautious about eliminating tariffs and China is demanding a flexible approach to open markets. The focus is on showing.