Cambodian Prime Minister Samdech Techo Hun Sen speaks during the opening ceremony of the 7th RCEP Intersessional Ministerial Meeting in Siem Reap province, Cambodia, March 2, 2019. Hun Sen said on Saturday that he hoped negotiations on the Regional Comprehensive Economic Partnership (RCEP) trade pact will be concluded by the end of this year. (Xinhua/Li Lay)
PHNOM PENH, March 2 (Xinhua) -- Cambodian Prime Minister Samdech Techo Hun Sen said on Saturday that he hoped negotiations on the Regional Comprehensive Economic Partnership (RCEP) trade pact will be concluded by the end of this year.
"I hope that all negotiating countries will have a common political will to conclude the negotiations on the RCEP agreement in 2019," he said in a speech during the opening ceremony of the 7th RCEP Intersessional Ministerial Meeting in Siem Reap province.
"If this agreement is concluded, confidence in our regional framework will be further enhanced, not only in economics, but also in politics as well as in other matters," Hun Sen said.
The RCEP, a proposed free trade agreement (FTA) between the 10 ASEAN member states and six of their FTA partners - China, Japan, South Korea, Australia, New Zealand and India, is expected to be one of the world's largest trading blocs, accounting for 45 percent of the world population, 40 percent of global trade and around one third of the world's GDP. The talks on RCEP was launched in 2012.
The RCEP ministerial meeting brought together ministers and delegations of the 10 ASEAN member states and the six ASEAN FTA partners.
The meeting is aimed at resuming negotiations and tackling the remaining issues following the 25th Trade Negotiation Committee Meeting and Related Meetings held on Feb. 19-28 in Indonesia.
In his speech, Hun Sen extended his appreciation to all participating countries for their utmost efforts in pushing for the realization of the RCEP agreement, which would cement a very solid basis for global prosperity.
"Cambodia and ASEAN member states are highly committed to adhering to multilateral regime and international cooperation, and remain industrious in uplifting multilateral trading system which is open as a basis for growth and regional and global economic development for decades," he said.
