RCEP Chief Representatives Video Conference... "Pursuing Signature Within the Year"

Virtual Meeting of Chief Representatives Between the Two Sides on 10-11th... 5th Since COVID-19

Yeohan-gu, Director General for Trade Negotiations, Ministry of Trade, Industry and Energy. (Photo by Yonhap News)

[Asia Economy Reporter Moon Chaeseok] The virtual meeting of the chief negotiators of the Regional Comprehensive Economic Partnership (RCEP) will be held over two days on the 10th and 11th.

According to the Ministry of Trade, Industry and Energy on the 9th, a delegation of about 10 members, led by Ye Han-gu, Director General of Trade Negotiations at the Ministry, will attend on Korea's behalf.

The Ministry stated that through four previous virtual meetings, they have discussed legal reviews, market opening issues, and other technical matters.

This meeting is being held three weeks after the chief negotiators' meetings held on the 18th, 20th, and 22nd of last month.

They plan to conduct in-depth discussions on the India issue, remaining contentious points, and future plans for signing within the year.

The Ministry believes that RCEP will play an important role in restoring intra-regional trade and investment, which have been contracted due to the novel coronavirus disease (COVID-19).

In response to the restructuring trend of the global value chain (GVC) in the post-COVID era, RCEP is expected to gain importance by providing unified rules of origin and other single trade norms within the region.

An official from the Ministry said, "Considering the economic and geopolitical significance of RCEP under GVC restructuring and global protectionism, as well as the expansion of free trade and intra-regional trade and investment, the government plans to actively work towards signing RCEP within this year."

This content was produced with the assistance of AI translation services.