Ministers from Japan and ASEAN will push for trade rules with high degrees of freedom for a proposed regional free trade pact.

The Regional Comprehensive Economic Partnership (RCEP) negotiations seem to have hit a roadblock with member countries unwilling to accept India’s demand for greater liberalization in services.

Japan yesterday cautioned against haste in the conclusion of the proposed Regional Comprehensive Economic Partnership (RCEP) stressing “substance is more important than timing.”

The Philippines should push for the conclusion of negotiations for the Regional Comprehensive Economic Partnership (RCEP) in this year’s annual Asean Meeting, as the deal could translate to better market access for its exporters than its existing free-trade agreements (FTA), the Asian Development Bank (ADB) said.

Economic ministers from the Association of Southeast Asian Nations (ASEAN) ended their meeting on Friday, vowing to deepen and expand trade integration through regional trade partnership.

Sixteen countries in the Asia-Pacific region have started the 8th round of discussions on the Regional Comprehensive Economic Partnership (RCEP) in Kyoto on Monday.