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ASEAN

World’s biggest trade deal to be delayed to 2020: draft ASEAN statement

cde.news desk · 1 min read
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epaselect epa07961572 A Thai police officer stands guard inside the venue of the 35th Association of Southeast Asian Nations (ASEAN) Summit at IMPACT Muang Thong Thani near Bangkok in Nonthaburi province, Thailand, 31 October 2019. Thailand is set to host the 35th ASEAN Summit, which will run from 02 November to 04 November 2019. EPA-EFE/NYEIN CHAN NAING

The signing of the world’s largest trade pact will likely be kicked back to 2020, according to a draft statement by Southeast Asian leaders, delaying a deal craved by China to offset a painful tariff war with the US.

The 16-nation Regional Comprehensive Economic Partnership (RCEP) spans from India to New Zealand and includes 30 percent of global GDP and half of the world’s people.

Objections by India have dashed hopes of finalising the pact at this weekend’s Association of Southeast Asian Nations (ASEAN) summit in Bangkok, where members of the 10-nation bloc have been joined by the premiers of India and China.

Via France 24

Filed under ASEANEconomy
Topics aseanbangkokRCEPThailand

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