Officials to boost talks on trade pact

Leaders have pledged intensified efforts by ministers and negotiators next year to finalize negotiations on the proposed freetrade pact known as the Regional Comprehensive Economic Partnership, according to a joint statement issued on Tuesday.

Analysts said a shared political will to safeguard liberal trade in the Asia-Pacific region was shown when the leaders from all 16 participating countries convened in Manila and issued the joint statement.

The RCEP, a free-trade pact that is believed to be nearing completion by negotiators, involves the 10 ASEAN members plus six other leading Asia-Pacific economies — China, India, Japan, South Korea, Australia and New Zealand.

Premier Li Keqiang and leaders of the other contracting countries attended the meeting on Tuesday on the sidelines of a series of East Asia Cooperation meetings.