Southeast Asian leaders, worried by the U.S.-China trade war, pushed for a deal ...
BANGKOK - Southeast Asian leaders, worried by the U.S.-China trade war, pushed for a deal on what could be the world’s largest trade bloc on Sunday as officials worked behind the scenes to try to salvage progress following new demands from India.
“We should continue to work to conclude negotiations on the RCEP within this year to stimulate economic growth, as well as trade and investment,” Thai Prime Minister Prayuth Chan-ocha told the formal opening of the ASEAN summit. The 16 countries in RCEP would account for a third of global gross domestic product and nearly half the world’s population.
But Thai commerce minister Jurin Laksanawisit told Reuters on Sunday that India had not pulled out and all was good on RCEP negotiations, a day ahead of a meeting at which the Thai hosts hope major progress will be announced.A draft final statement for the ASEAN summit seen by Reuters said the leaders would express “deep concern over the rising trade tensions and on-going protectionist and anti-globalisation sentiments”.
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