Moon promises to make RCEP a reality next year

SEOUL: South Korean President Moon Jae-in held talks with representatives from news agencies in the Asia-Pacific region in Seoul on Thursday, saying his country will “do its utmost” to make finalising the Regional Comprehensive Economic Partnership next year a reality.

Mr Moon made the remarks as he met with Kyodo News president Toru Mizutani and others at his executive office. Stating that trade protectionism must be opposed and the value of free trade protected, he said, “The finalisation of the RCEP will play a large role in restoring and proliferating free trade.”

The RCEP brings together Australia, China, India, Japan, South Korea and New Zealand, as well as the Association of Southeast Asian Nations states — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Covering a third of the global economy, talks began in 2013 with the initial goal of wrapping them up in 2015. But India’s pullout caused leaders from 16 nations to postpone finalising the deal this year.

Mr Moon did not touch on soured bilateral relations with Japan, including the General Security of Military Information Agreement, or GSOMIA, set to expire Nov 23. Seoul informed Tokyo in August it would terminate the bilateral military intelligence-sharing pact used to counter North Korean missile threats.

Regarding stalled talks between Washington and Pyongyang on North Korea’s denuclearisation, he called for cooperation, saying, “There are many obstacles left [to overcome], but for the peace of the Korean Peninsula, East Asia and the entire world, it is a path we must tread.”

Members of the Organisation of AsiaPacific News Agencies are in Seoul for their General Assembly.