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            december 08, 2019

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Beijing to hold RCEP August 2, tariff reduction for ASEAN tops agenda


The next meeting of the Regional and Comprehensive Economic Partnership (RCEP) will be held on August 2 in Beijing, with the 10 members of the Association of Southeast Asian Nations (ASEAN), reports Hong Kong's South China Morning Post.
Also expected to attend are six other countries in the region - China, Japan, South Korea, Australia, New Zealand and India planning to attend.
China is expected to make concessions including reducing tariffs in a bid to push forward stalled talks on a mega regional trade deal when it hosts the 15 other nations involved at a summit.
Beijing has reduced duties on competing products from other World Trade Organisation (WTO) countries to an average of 6.7 per cent in the past year, showing signs of lowering trade barriers for other countries, said analysts from the Peterson Institute for International Economics.
Ahead of the summit, talks will be held in Zhengzhou, Henan province between July 22 and 31.

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