23rd AEM Retreat’s meeting agrees to conclude RCEP talk results within this year
Wednesday, 15:37, 15/03/2017
The Commerce Minister stated that the 23rd ASEAN Economic Ministers' (AEM) Retreat agreed to conclude the results of Regional Comprehensive Economic Partnership (RCEP) talks within this year, and plan to meet the goal of lifting duties for 90% of all goods within 15 years.
At the meeting, Thailand signed the 2nd ASEAN Comprehensive Investment Agreement (ACIA), while the ASEAN Economic Ministers endorsed the operation plan and the ASEAN regulatory guidelines that will be in place for the next 10 years.
The AEM Retreat and related meetings also considered reviving the ASEAN-EU FTA by proposing that a framework for the agreement be submitted to the next ASEAN ministerial meeting, says the Commerce Minister.
The ASEAN-EU FTA has been halted since 2009. It is believed that this dialogue will benefit both ASEAN and EU.