World's biggest trading bloc a step closer after Tokyo meeting

SINGAPORE (July 1): Asian trade ministers took another step toward creating what could be the world’s biggest trading bloc on Sunday, expressing hope that a deal could be signed by the end of this year.

Ministers from the 16-nation Regional Comprehensive Economic Partnership, which includes China, Japan and India but not the US, met in Tokyo on Sunday to try and thrash out remaining differences.

“The path toward a year-end agreement is now clearer,” said Hiroshige Seko, Japan’s Trade Minister during the joint-press conference held Sunday. “As protectionism concerns increase globally, it’s important that the Asian region flies the flag of free trade.”

---

Related Stories

• A little thought when bearing gifts
• China signals reversal of tough rules, but Pictet wants more clarity before going back in
• Southeast Asia gives investors several reasons to stay upbeat this year, says HSBC

---