Asia likely to become world’s largest trade bloc in February 2020

The Pan-Asia Regional Comprehensive Economic Partnership (RCEP) is unlikely to be signed during the ASEAN summit in Bangkok, Thailand. Negotiators aims to sign the pact in February 2020.

According to a spokeswoman from Thailand’s government, a trade deal by Asian countries could potentially be signed in February 2020 in what could become the world’s largest trade bloc.

Negotiators have scrambled to salvage progress in the deal to meet India’s demands. As a result, the chances of finalization of the Asia-wide Regional Comprehensive Economic Partnership (RCEP), which has the backing ofChina, is in doubt during the summit of the Association of Southeast Asian Nations (ASEAN) in Bangkok, Thailand.

“We don’t have a conclusion yet. Once there is one it would be announced,” said Narumon Pinyosinwat, a spokeswoman for the Thai government.

“Commerce ministers are still discussing outstanding issues. The signing is expected around February next year.”

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