General elections scheduled this year in several dialogue partners of the Regional Comprehensive Economic Partnership (RCEP), including Thailand, Indonesia, the Philippines and Australia, are unlikely to affect the regional trade talks, says the Thai trade minister.
All members are committed to concluding the RCEP talks within this year as planned, said acting Commerce Minister Chutima Bunyapraphasara.
"After seven years of delays, all member countries have a mutual consent that the talks should be concluded this year," said Ms Chutima. "More delays would not be good for members, especially during the global economic slowdown and volatile trading environment."
She spoke with the Indian trade minister last week, who confirmed it would support Thailand, which is chair of Asean this year, to help conclude the regional trade talks by the end of this year.
"India will have an election in April and is expected to have a new government in June," said Ms Chutima. "But the Indian minister reaffirmed it would engage in RCEP negotiations as India is keen on the benefits offered by the trade pact."
RCEP was launched in November 2012 with the aim of establishing deeper economic cooperation among the 10 Asean members and six dialogue partners (China, Japan, South Korea, Australia, India and New Zealand).
RCEP trade ministers are scheduled to convene in Cambodia on Saturday to set working plans and goals to conclude the talks this year. The members aim to hold eight meetings this year -- four meetings of the trade negotiating committee and four ministerial meetings.
Ms Chutima said the members have settled seven issues, but 13 remain including market access for goods and services as well as investment.
RCEP members' trade makes up 29% of the global volume.
