Malaysia Remains Positive Of Concluding RCEP This Year

From Nurunasihah Abdul Rashid NEW DELHI, May 3 (Bernama) -- Malaysia reiterated on Monday that it remains confident the Regional Comprehensive Economic Partnership (RCEP) will be concluded by year-end despite some hurdles. To-date, a total of 11 rounds of negotiations were completed and the next round is scheduled to take place in Auckland, New Zealand, beginning June 12, 2016. "We will continue the negotiations and request our negotiators to intensify efforts to conclude and achieve a mutually beneficial and high-quality agreement," Malaysian Minister of International Trade and Investment Mustapa Mohamed told reporters here on Monday. He said the RCEP was among the issues that were discussed during his bilateral meeting with his Indian counterpart, Minister of State for Commerce and Industry, Nirmala Sitharaman. Mustapa, who is leading a trade and investment mission, said ambitious tariff cuts were among some of the hurdles and more efforts were needed to make the partnership more comprehensive. The 11th round of negotiations that was concluded in Brunei showed great promise, hence, Malaysia is confident it would be concluded by the end of the year, he said. The RCEP comprises 10 ASEAN countries, India, China, South Korea, Japan, Australia and New Zealand. The conclusion of RCEP is expected to contribute significantly to regional and global economic integration, provide for equitable economic development and strengthen economic cooperation. Mustapa will head for Vijaywada Tuesday morning as part of his investment promotion mission and thereafter to Hyderabad in the evening before departing for Colombo in Sri Lanka on Wednesday. --BERNAMA