3. Parliamentary replies
Minister Lim Hng Kiang’s Written Reply to Target Timelines for Regional Comprehensive Economic Partnership
15 January 2013
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Question
Mr R Dhinakaran: To ask the Minister for Trade and Industry what were the specific timelines and target dates set for the Regional Comprehensive Economic Partnership (RCEP) launched by ASEAN and its six regional free-trade partners at the November 2012 ASEAN Summit.
Written Reply by Mr Lim Hng Kiang, Minister for Trade and Industry
The Regional Comprehensive Economic Partnership (RCEP) is a 16-party free trade agreement that was launched by the Leaders of the Association of Southeast Asia Nations (ASEAN) and the ASEAN FTA Partners of Australia, China, India, Japan, Korea and New Zealand at the 21st ASEAN and Related Summits in Phnom Penh, Cambodia. The negotiations are expected to commence in early 2013 and the aim is to conclude them by end-2015. The Senior Economic Officials from the RCEP Participating Countries will be meeting in early 2013 to finalise the terms of reference (TOR) for the Trade Negotiating Committee (TNC) as well as the work plan for the negotiations.
Along with the Trans Pacific Partnership (TPP), the launch of the RCEP negotiations is a significant milestone for deeper regional economic integration, and a possible pathway to a free trade area of the Asia-Pacific.