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APEC Chinese delegation: More countries interested in joining RCEP free trade agreement


11-21-2016 10:19 BJT

Full coverage: Xi Visits Ecuador, Peru and Chile, Attends APEC Summit

The Chinese delegation at the APEC Leaders' Meeting has said several countries have expressed interest in joining the Regional Comprehensive Economic Partnership. A deal backed by China, countries including Peru and Chile have expressed their interest in joining RCEP.

A senior member of the delegation said that China wants to reach an agreement soon, given rising protectionism in the global economy. He said that the Trans-Pacific Partnership and RCEP were both valid paths to a Free Trade Area of the Asia-Pacific.

RCEP involves the 10 members of ASEAN, plus their regional trading partners China, Japan, South Korea, Australia, New Zealand and India. Compared with the TPP, RCEP aims to cut tariff and non-tariff barriers but calls for lower and more limited regulatory standards. 

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