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Business EconomyPosted at: Nov 13 2018 6:32PM


Ministers guided the negotiators to deliberate further on E-Commerce, Competition and Investment chapters where consensus could not be reached during this meeting. Ministers urged the negotiators to intensify their work with a view of narrowing gaps and finding balanced outcomes in the negotiations with the aim of concluding negotiations by 2019.

On the sidelines of the RCEP, the Commerce Minister held bilateral meetings with his counterparts from Singapore, China, Japan and New Zealand. He discussed bilateral issues and progress in RCEP negotiations. He also had pull-aside meetings with Trade Ministers of South Korea, Indonesia, Cambodia, Malaysia, Australia and Philippines to discuss matters of mutual interest.
Mr Prabhu Tweeted, ''Interacted with Pan Sorasak, Minister of Commerce of Cambodia on the sidelines of the RCEP meeting in Singapore. Had comprehensive discussions with him on bilateral and multilateral areas of mutual interest.''
He also met with the senior-level delegation from New Zealand and discussed with them on ''promoting investment and strengthening our trade ties for mutual economic growth''.
''Had a meeting with Hyun Chong Kim, Minister for Trade, Industry and Energy, Republic of Korea and discussed with him on bilateral and multilateral issues on the sidelines of RCEP ,'' he said in a series of tweets.
Mr Prabhu has also interacted with Mr Darell Leiking, Minister of International Trade and Industry of Malaysia. ''Our discussions were centred around enhancing trade and investment between our respective countries and the RCEP,'' he tweet.
He also met with Ramon Lopez, Secretary of Trade and Industry of Phillipines on the sidelines of RCEP meeting and had discussions with him on bilateral issues of mutual interest.
''This new trading block will be valued close to 50 per cent of the global GDP as well as have the highest potential for future growth. We are working towards getting a fair deal to protect and promote our country's interests by working with our partner nations,'' he said.
So far six Ministerial Meetings, seven Inter-Sessional Ministerial Meetings and 24 rounds of the Trade Negotiating Committee at the technical level have been held.
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