MIL OSI Translation. Region: Russian Federation –
The main success of the ASEAN Summit in Bangkok was the decision to end the negotiation process on the Comprehensive Regional Economic Partnership (REED), the largest free trade area in the world, during 2019, Dr. studying the activities of ASEAN.
“This was the most important thing, and that’s the decision to complete the negotiations this year. I’m sure that next year’s agreement on the AREA will be signed. This year they will not have time, but next year it’s necessary,” the expert said .
He added that in the conditions of the “trade war” between the United States and China, the agreement on the GREEC, the signing of which from the very beginning of the negotiations actively supported the PRC, became extremely important for the countries of Southeast Asia, connected by a wide spectrum of trade, economic and political-strategic relations with both parties to the trade conflict.
“The idea of WREP was first presented at the 19th ASEAN Summit in Bali in Indonesia in November 2011, when, parallel with the Association Summit, a number of events were held at the international dialogue platforms initiated by ASEAN, that is, the meeting of representatives those countries that are now preparing to sign an agreement on the AIRP, “Chongkittavon recalled.
“Negotiations have been going on for almost eight years, but now, in the current world situation, the matter has accelerated, so the ASEAN summit, which just ended in Bangkok, stated that the coordination of the main RREP documents was almost complete and could be fully completed during 2019,” expert.
ASEAN includes ten countries in South-East Asia: Thailand, Brunei, Malaysia, Singapore, Indonesia, Cambodia, Laos, Myanmar, the Philippines and Vietnam. ASEAN partners in the WEPD are China, Japan, South Korea, India, Australia and New Zealand. After the signing of the agreement on the AIRP, the world’s largest free trade zone will emerge, which will comprise almost half of the world economy.
A source: RIA News
EDITOR’S NOTE: This article is a translation. Apologies should not be perfect.