Friday, 17 June 2016

Bid to get a China-backed Asia trade pact in 2016 seen failing short

A raft of thorny issues including market access and trade barriers makes it very unlikely 16 Asia-Pacific countries can hammer out a proposed economic "partnership" by the end of this year.

The week-long 13th round of negotiations to create a Regional Comprehensive Economic Partnership (RCEP), under way in Auckland, New Zealand, ends on Saturday. The talks kicked off in 2013.

The original aim had been to wrap up by the end of 2015 a trade deal that involves a total population of more than 3 billion and annual trade volume of over US$17 trillion.

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