Asean members agree to cut 90% of tariffs over next 15 years

Experts yesterday welcomed recent moves by Asean members to agree to cut 90% of tariffs in the Regional Comprehensive Economic Partnership (RCEP) for between 5,000 to 6,000 kinds of products over the next 15 years, saying it would fully benefit Cambodia after the cancellation of the US-backed Trans-Pacific Partnership (TPP). According to Bangkok Post, Thailand’s Commerce Minister Apiradi Tantraporn, will raise the issue of the tariff cuts for further discussions with Asean’s dialogue partners later this month, so that a pact can be signed at the Asean summit in November. The RCEP is a regional economic agreement being negotiated between the 10 Asean governments and six free trade agreement partners—Australia, China, India, Japan, New Zealand and South Korea. (Source: Khmer Times)