ASEAN leaders to discuss RCEP measures, targets

Leaders of the Association of the Southeast Asian Nations (ASEAN) member states are set to advance talks on the Regional Comprehensive Economic Partnership (RCEP) later today, Trade Secretary Ramon Lopez said Sunday.

During his welcome remarks during the Preparatory Meeting of ASEAN Economic Ministers, Lopez said leaders will discuss RCEP measures or targets which can be completed within the year.

The RCEP is a planned free trade agreement between the 10 ASEAN member states and six trading partners — Australia, China, India, Japan, Republic of Korea, and New Zealand.

"Another important agenda item that we will tackle today is the preparation for the Preparatory RCEP Ministerial Meeting. Discussions will focus on the Collective Assessment Paper to the Leaders and Joint Leaders' Statement on the RCEP," Lopez said.

"I understand the Assessment Paper provides an inventory of measures or targets that can be completed this year, those that need to be further discussed, and those that require reconsideration of mandates," he added.

Lopez in September said ASEAN leaders have already agreed to adopt a set of "key elements" which will advance the finalization of RCEP.

"The outcomes of this meeting is expected to lead up to the RCEP Leaders Summit this November 14, 2017," he said. —ALG, GMA News