China-Backed Asia Trade Deal Pushed Back to 2019 Amid Delays
- China’s Li says hopes RCEP talks will be completed next year
- National elections complicate conclusion of 16-nation pact
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Asian nations gave up hopes of completing a 16-nation trade bloc this year, with Chinese and Australian officials now looking to finalize the deal in 2019.
Singapore, which is chairing the 10-member Association of Southeast Asian Nations this year, had pushed for a substantial conclusion to the agreement this year. Known as the Regional Comprehensive Economic Partnership, or RCEP, the trade deal would cover almost half the world’s population.