Chinese Foreign Minister Wang Yi has called for accelerating negotiations on the Regional Comprehensive Economic Partnership (RCEP) to create the Free Trade Area of the Asia-Pacific (FTAAP).
Chinese Foreign Minister Wang Yi and his Australian counterpart. (Source: Xinhua/VNA)
Hanoi, (VNA) – ChineseForeign Minister Wang Yi has called for accelerating negotiations on the RegionalComprehensive Economic Partnership (RCEP)to create the Free Trade Areaof the Asia-Pacific (FTAAP).
Beijing is open to any regional tradeagreement that benefits regional economic integration and free trade, he wasquoted by Xinhua news agency as saying at a news conference after the fourthChina-Australia Strategic and Diplomatic Dialogue in Canberra on February 7.
According to Wang Yi, among regional andsubregional cooperation mechanisms in Asia-Pacific, some are making goodprogress while others have lost momentum, but either the RCEP or TPP or any other regional arrangement isa possible path to thebroader FTAAP.
He urged relevant sides to speed up talks onthe RCEP to achieve the common goal of creating FTAAP.
Initiated in November 2012, RCEP talks includethe 10 member countries of the Association of Southeast Asian Nations (ASEAN)and its six dialogue partners – China, India, Japan, the Republic of Korea,Australia and New Zealand.
RCEP member countries are estimated to makeup 29 percent of global trade.
RCEP has gone through 16 rounds ofnegotiation, with the latest round held in December 2016 in Indonesia.
The 17th round of negotiations is set to takeplace in Japan in February 2017.
Within the framework of the RCEP,💫 countries planto remove tariff barriers for🌜 80 percent of goods.-VNA
Malaysia will focus on regional economic integration and the conclusion of the Regional Comprehensive Economic Partnership (RCEP) as the Trans-Pacific Partnership (TPP) agreement could not materialise following the withdrawal of the US, local officials said on January 24.
The US withdrawal from the Trans-Pacific Partnership is likely to help the Regional Comprehensive Economic Partnership wrap up faster than expected, said Thai Deputy Prime Minister Somkid Jatusripitak
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New Zealand Trade Minister Todd McClay called on the 11 remaining member countries of the Trans-Pacific Partnership (TPP) agreement to discuss the next step for the trade deal after the US pulled out.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
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The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
Chinese Foreign Minister Wang Yi and his Australian counterpart. (Source: Xinhua/VNA)
