News Story: Philippines' Duterte pushes for immediate conclusion of Asian trade pact RCEP

MANILA, Aug. 8 (Xinhua) -- Philippine President Rodrigo Duterte stressed on Tuesday the need to conclude the Regional Comprehensive Economic Partnership (RCEP), saying it will help in further integrating the economies of the 10-member Association of Southeast Asian Nations (ASEAN).

"The RCEP will provide further impetus to our efforts (to integrate the ASEAN economies). Negotiations should conclude swiftly as decided by RCEP leaders in 2016," he said in a speech marking ASEAN's 50th anniversary.

The Philippines has committed to fast track the RCEP, a giant free trade pact that aims to tie together ASEAN's free trade agreements with each trading partners including Australia, China, India, Japan, South Korea, and New Zealand.

In April, Philippine Trade Secretary Ramon Lopez said the Philippines will push for the "substantial conclusion" of RCEP that will expand the ASEAN market from 600 million people to 3.5 billion by year-end.

At the same time, Duterte said ASEAN must take a serious look at the economic integration of its members economies.

"ASEAN has a bigger stake than any other part of the world standing up against protectionism and securing the rules of the game in the international trade," he said.

Read the full story at Xinhua

News Story: Deputy PM visits Australia to beef up bilateral ties

Sydney (VNA) – Deputy Prime Minister Vuong Dinh Hue held working sessions with some Australian officials on July 24 to seek measures to further foster partnership between the two countries.

At a meeting with Treasurer Scott Morrison, Deputy PM Hue, who is on a visit to Australia from July 23-25, highly valued Australia’s commitment to continue providing development assistance to Vietnam in various fields such as environment, the improvement of livelihoods for mountainous and rural areas, climate change response, and gender equality.

Morrison lauded Vietnam’s role as the host of the APEC 2017 with many important meetings. Vietnam has also devised the agenda for the event, which received high approval from member economies, he said.

He affirmed Australia’s policy of giving top priority to cooperation with the ASEAN and the country’s wish to help promote ASEAN’s solidarity, self-reliance, prosperity and central role in the region.

The two sides agreed that bilateral partnership is experiencing a sound period, with strong collaboration in economy, trade and investment. They lauded the close ties between the Ministry of Finance of Vietnam and Australia’s Treasury, with the signing of a memorandum of understanding on cooperation in 2012. 

The two sides are also discussing the signing of another deal for the new period to 2020, aiming to share experience in finance-budget, state budget allocation and the management of bad debt and public debt of joint stock commercial banks, and maintaining the macro economy’s stability.

Read the full story at VietnamPlus

News Story: China eyes more cooperation with Singapore on Belt and Road construction

BEIJING, June 12 (Xinhua) -- China and Singapore can increase cooperation under the Belt and Road Initiative via setting up platforms for connectivity, finance and third-party market, Chinese Foreign Minister Wang Yi said Monday.

Wang made the remarks while holding talks with his Singaporean counterpart Vivian Balakrishnan, who paid an official visit to China from Sunday to Monday.

Hailing the sound development of bilateral ties with Singapore since the beginning of this year, Wang said the two countries need to continue to implement the consensus reached by both leaders and promote the "partnership of all-round cooperation in keeping with the times."

China welcomes Singapore's participation in Belt and Road construction and is ready to work with the country to carry out the Belt and Road MOU, Wang said.

Balakrishnan said the Belt and Road Initiative is of historic importance and Singapore has supported it from the very beginning as it connects Asia, Europe and Oceania and brings prosperity to all.

Singapore is an important point along the Belt and Road and could provide support to the financing of the initiative as it is a regional financial hub, Balakrishnan told media at a joint press conference held after the talks.

The connectivity projects conducted by Singapore and China in southwestern China's Chongqing Municipality could also join the land and maritime Silk Roads, he said, adding that Singapore is willing to better align its economic development strategies with China.

Read the full story at Xinhua

News Story: Tokyo conference spotlights Asia’s sustainable development

Tokyo (VNA) – Measures to maintain stability and sustainable development in Asia amid the increasing trade protectionism were discussed at the 23rd International Conference on the Future of Asia in Tokyo, which was hosted by Nilkkei Inc of Japan on June 5. 

President and CEO of Nilkkei Inc Naotoshi Okada asked how to retain stability and sustainable development in the region and what Asian counties should do to prevent increasing trade protectionism. 

He expressed his belief that leaders and experts will discuss the issue straightly.

Meanwhile, former Singaporean Prime Minister Goh Chok Tong warned of the growing sentiment that economic integration in the West is “not Asia’s interest”.

“It is time for Asia to stand up for free and fair trade, reap the full benefits of globalisation, and shape the new global agenda”, he stressed.

He called on China and Japan – the powerful economies in Asia to cooperate in driving economic integration and free trade in the region. 

Read the full story at VietnamPlus

News Story: Meeting seeks to finalise RCEP trade pact

Hanoi (VNA) – The third Inter-sessional Ministerial Meeting of the Regional Comprehensive Economic Partnership (RCEP) opened in Hanoi on May 22, with the aim to speed up negotiations seeking to finalise the regional trade pact.

Attending the event were representatives from the 10 ASEAN nations and their partners of Australia, China, the Republic of Korea, India, Japan and New Zealand.

Minister of Industry and Trade Tran Tuan Anh said that the parties involved have exerted efforts to boost negotiations with a hope to expand economic integration on the basis of the existing positive cooperation between ASEAN and its six partners.

All of them expect the RCEP will create a stable and unified framework and facilitate the circulation of products, services and investment in the region.

Read the full story at VietnamPlus

News Story: Philippines calls for faster RCEP negotiations

Hanoi (VNA) – Philippine Secretary of Trade and Industry Ramon Lopez on May 8 urged negotiators of the Regional Comprehensive Economic Partnership (RCEP) to speed up talks, reaffirming the need to conclude the free trade deal this year.

Opening the 18th round of RCEP negotiations, Lopez said the negotiators need to keep the momentum of the talks going and encouraged all parties to achieve a sustainable conclusion of the “high-quality and credible agreement” by the end of this year.

He said 17 rounds of negotiations have been held so far since RCEP talks were launched in 2012 and they are moving forward despite the challenges.

At the end of the 30th ASEAN Summit last week, ASEAN leaders instructed their ministers and negotiators to accelerate efforts building on the progress achieved thus far. 

Read the full story at VietnamPlus

News Report: Concerns Over N. Korea, China Influence Shadow ASEAN FM Meeting

Ron Corben

BANGKOK — A meeting of foreign ministers from the 10 member Association of South East Asian Nations (ASEAN) with the U.S. Secretary of State Rex Tillerson this week comes amid ongoing tensions on the Korean peninsular as well as concerns over China’s growing influence in Southeast Asia.

The meeting is officially geared towards planning regional summits in November, which U.S. President Trump is committed to attend.

U.S. officials said the ASEAN foreign ministers had been calling for the meeting as part of regional efforts to engage with the new administration.

Secretary of State Tillerson earlier said the ministers were expected to discuss trade, territorial claims in the South China Sea, trafficking, crime and other issues.

The meeting in Washington follows U.S. Vice President Mike Pence’s recent visit to the Asia Pacific, including Indonesia.

During the visit, Pence said Washington was “taking steps to strengthen our partnership with ASEAN and deepen our friendship,” aiming to strengthen economic ties and security cooperation in combating terrorism and the disputes over the South China Sea.

News Report: Why It's Vitally Important for Japan to Sustain Relations Within TPP Without US

Japan is planning to put the Trans-Pacific Partnership trade pact into force without the US, following Washington's withdrawal from the agreement in January and after it became clear that the US would not oppose such a move. Radio Sputnik talked to Dr. Seijiro Takeshita, a Japanese expert in trade, on the viability of the decision.

Japan plans to push forward talks to put a Pacific Rim trade pact (TPP) into force without the United States, which withdrew from the multi-nation agreement in January, local media reported on Saturday, citing sources in the government.

The TPP was signed in February 2016 by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. These countries account for around 40 percent of the global economy; China was not a member.

According to the reports, Tokyo approached its counterparts from the Association of Southeast Asian Nations with an alternate plan.

News Story: Vietnam lauds ASEAN-New Zealand strategic partnership

Hanoi (VNA) – Vietnam highly values and welcomes the outcomes of the strategic partnership between ASEAN and New Zealand, Deputy Foreign Minister Nguyen Quoc Dung said at the 24th ASEAN-New Zealand Dialogue held in Christchurch, New Zealand on March 21-22.  

On behalf of ASEAN member states, Dung, who is also Chair of the ASEAN-Vietnam Senior Officials’ Meeting, spoke highly of New Zealand’s role and contributions to regional defence-security over the past years, noting that both sides need to increase collaboration to uphold the role and increase efficiency of regional security cooperation mechanisms led by ASEAN. 

He called for joint work to build the capacity of coping with security challenges, including preventive diplomatic measures and improvement of the capacity of law enforcement agencies, as well as maritime coordination. 

Dung stressed that narrowing development gap is an important priority of ASEAN and of Cambodia-Laos-Myanmar-Vietnam (CLMV). 

Vietnam proposed several specific measures and asked ASEAN partners, including New Zealand, to continue offering technical and capacity building support to the bloc, so that ASEAN can successfully conduct the third stage of the Working Plan of the Initiative for ASEAN Integration (IAI), towards realising the ASEAN Vision 2025.

Read the full story at VietnamPlus

News Story: Chinese premier's upcoming visit to boost China-Australia ties

BEIJING, March 20 (Xinhua) -- Chinese Premier Li Keqiang's five-day official visit to Australia starting Wednesday is expected to boost the development of China-Australia relations and cooperation, and push forward free trade and regional integration.

It will be his first visit to the Oceanic state in the southern hemisphere in his capacity as Chinese premier. After that, he will visit New Zealand.

TO ALIGN DEVELOPMENT STRATEGIES

Li is expected to seek cooperation spaces for common growth with Australia, in accordance with China's updated economic outlook and blueprint from the just concluded "two sessions" -- the annual gatherings of National People's Congress and Chinese People's Political Consultative Conference.

With an extensive common ground and huge potential in cooperation, Australia has been an important economic and trade partner of China. Meanwhile, China has for years ranked top among Australia's trade partners, as its largest exports market and source of imports and investment.

The two sides have seen deepening economic and trade ties as a result of a free trade deal since December 2015.

Liu Qing, head of the Asia-Pacific department at the China Institute of International Studies (CIIS), believes the Chinese premier's visit will bring more opportunities to China-Australia cooperation.

"The two countries have highly complementary economies and development strategies," he said, expecting to see an alignment between the China-proposed Belt and Road Initiative and Australia's ambitious development plan for its north.

Australian Trade Minister Steve Ciobo said recently that Australian businesses have a keen interest in and want to be part of the Belt and Road Initiative.

Read the full story at Xinhua

News Story: Philippines can follow Australia's balancing act

By Dindo Manhit

If the Philippines is to pursue an “independent” foreign policy, it may do well to take inspiration from countries that have found a middle path between the United States (US) and China. The answer may lie in not only deepening cooperation with the world’s heavyweights, but in investing in our relationships with neighbors and markets of all sizes. While the Philippines strengthens its ties with partners throughout Asia this year, it could look just further to Australia and build on the milestones on the past.

Adapting the comprehensive partnership to economic priorities

In 2015, the Philippines and Australia inked a “comprehensive partnership” with many areas of ongoing and planned cooperation: political, economic, defense, law and justice, education, and development. On the back of this partnership, Australia is the Philippines’ second largest source of grants after the US, providing US$ 567 million in 2015.

The economic component of the relationship is liable to have a higher profile moving forward. After the country netted headline-grabbing sums from the president’s trips to Beijing and Tokyo last October, the Philippines’ relationships with Japan and China have been top of mind topics when discussing our foreign relations. There has been the tendency, rightly or wrongly, for members of the government and the public to take a transactional view of foreign affairs.

Read the full story at PhilStar

News Story: Chile calls for Asia-Pacific integration

Buenos Aires (VNA) – Chilean Minister of Foreign Affairs Heraldo Munoz said he will push for Asia-Pacific integration, free trade and anti-protectionism at the Trans-Pacific Partnership (TPP) meeting in Vina del Mar city, Chile on March 14-15.

Speaking to the press before the meeting, the minister stressed that it took place in a sensitive context for the global economy, with protectionism likely to grow. Thus, TPP member states need to determine whether to continue with economic and trade integration, he added.

The meeting was held to discuss saving the TPP after US President Donald Trump withdrew from the trade deal.

The other 11 TPP member countries need to restart negotiations, Munoz said, pledging that Chile is willing to give support to the dialogue to take advantage of the agreed parts of the deal after nearly a decade of negotiation.

Read the full story at VietnamPlus

News Story: Chile looking for boosting commercial openness in TPP meeting

SANTIAGO, March 12 (Xinhua) -- Chilean Foreign Minister Heraldo Munoz, said on Sunday that Chile hoped to send a message of maintaining a pluralistic approach to free trade in the upcoming Trans-Pacific Partnership (TPP) Chile meeting.

Munoz said in an interview with local newspaper El Mercurio that nowadays numerous initiatives were being carried out, such as the TPP, the Regional Comprehensive Economic Partnership(RCEP), and the Free-Trade Area of the Asia-Pacific(FTAAP).

"We work with those who are ready for openness and integration," Munoz explained.

Read the full story at Xinhua

News Story: Pacific Alliance eager to cooperate with RCEP, says Peru president

LIMA, March 10 (Xinhua) -- Peruvian President Pedro Pablo Kuczynski said on Thursday night that the Pacific Alliance (Chile, Colombia, Mexico and Peru; PA) were eager for the Regional Comprehensive Economic Partnership (RCEP) free-trade deal to become a reality.

In a press conference, Kuczynski told Xinhua that Peru was keen to join the RCEP, either alone or with its Pacific Alliance partners.

"We have a free-trade agreement (FTA) with China, and we have separate agreements with South Korea, Japan, Thailand and Singapore. We will try to broaden this with an effort through the Alliance. However, not all countries within the Alliance have the same agreements...In the Cali Summit, in two months, we will see how we face this. Obviously, we would prefer to do this through the Alliance," said the president.

Read the full story at Xinhua

News Story: China to respond if U.S. introduces border tax - minister

BEIJING, Feb. 21 (Xinhua) -- China will make careful evaluations and respond accordingly if the United States unveils a detailed plan on the proposed border-adjustment tax, Commerce Minister Gao Hucheng said Tuesday.

China is aware of a recent proposal within the U.S. administration concerning a border tax on imports, said Gao at a press conference when answering a question on U.S. President Donald Trump's posts on Twitter.

All countries should abide by international trade rules when formulating trade policies, the minister said.

Read the full story at Xinhua

News Story: New Zealand, Australian leaders pledge closer trade, science cooperation

WELLINGTON, Feb. 17 (Xinhua) -- The leaders of New Zealand and Australia have agreed to work together to revive the Trans-Pacific Partnership (TPP) trade pact after the United States' withdrawal under President Donald Trump.

New Zealand Prime Minister Bill English and his Australian counterpart Malcolm Turnbull issued a joint communiqué Friday after talks in New Zealand's South Island mountain resort of Queenstown.

The statement said the two leaders had agreed to continue to push for open markets and regional economic integration, "noting, with concern, growing anti-globalisation sentiment in many parts of the world."

The TPP, signed by 12 nations in Auckland last year, was a "key promoter of regional economic integration and a driver of economic growth, competition, innovation and productivity," it said.

"In light of the intention of the United States not to ratify TPP, the two Prime Ministers agreed that Australia and New Zealand would work together to engage with other TPP partners on the way forward, over the coming months."

Read the full story at Xinhua

News Story: New Zealand pushes TPP without US

Hanoi (VNA) – 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 New Zealand trade chief made the statement in Tokyo on February 8 during his visit to Japan to hear the views of other TPP members regarding the future of the pact.

During an interview with Japan’s Kyodo News in Tokyo, he said a meeting of ministers from the TPP member countries could take place in Chile in March, adding that "It's too soon for us to give up on that achievement after nine years of negotiation," describing the deal as a "high quality" agreement.

According to McClay, there are a range of views among the countries but one option could be going ahead with the trade deal even without the US.

Read the full story at VietnamPlus

News Story: Chinese FM calls for acceleration of RCEP talks

Hanoi, (VNA) – 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). 

Beijing is open to any regional trade agreement that benefits regional economic integration and free trade, he was quoted by Xinhua news agency as saying at a news conference after the fourth China-Australia Strategic and Diplomatic Dialogue in Canberra on February 7. 

According to Wang Yi, among regional and subregional cooperation mechanisms in Asia-Pacific, some are making good progress while others have lost momentum, but either the RCEP or TPP or any other regional arrangement isa possible path to the broader FTAAP.

He urged relevant sides to speed up talks on the RCEP to achieve the common goal of creating FTAAP.

Read the full story at VietnamPlus

News Story: Chinese FM calls for expediting RCEP talks

CANBERRA, Feb. 7 (Xinhua) -- Chinese Foreign Minister Wang Yi on Tuesday called for expediting the talks of the Regional Comprehensive Economic Partnership (RCEP) for the construction of a Free Trade Area of the Asia-Pacific (FTAAP).

China is open to any regional trade arrangement conducive to regional economic integration and global free trade system, Wang told a press conference after the fourth round of China-Australia diplomatic and strategic dialogue.

As for various regional or sub-regional cooperation mechanisms in the Asia-Pacific, some are thriving while others are faltering, such as the Trans-Pacific Partnership (TPP), he said.

Read the full story at Xinhua

News Report: Enter the Dragon - China Could Consider Joining TPP, Albeit With Conditions

The idea of inviting the EU to join the Trans-Pacific Partnership (TPP) trade agreement is a pie in the sky, whereas China could become a TPP member, albeit with preconditions, Russian expert Yekaterina Arapova told Sputnik.

In an interview with Sputnik, Russian foreign affairs expert Yekaterina Arapova from the Moscow State Institute of International Relations, wrote off the idea of inviting the EU to join the Trans-Pacific Partnership (TPP) trade agreement, calling it a pie in the sky.

As far as China is concerned, it could become a TPP member but with a set of preconditions, she said.

The interview came after US President Donald Trump signed an executive order on Monday withdrawing the United States from the TPP, fulfilling his campaign pledges.