State Minister of Economy, Trade and Industry Yamagiwa Attended the Third Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting and Another Meeting

[Third EAS Economic Ministers’ Meeting]

At the Third RCEP Ministerial Meeting, which State Minister Yamagiwa attended after attending the previous interim ministerial round of negotiations in July 2015, regarding modalities (protocols for tariff negotiations), an agreement was reached through persistent negotiation with member countries mainly on standards for initial offers to start substantive tariff negotiations. This agreement will greatly advance the RCEP negotiations.

Regarding the field of investment, it was also determined that all the member countries should submit their initial offers by the next negotiation meeting and that substantive negotiations concerning the three major fields of goods, investments, and services will start at the next negotiation meeting. The Ministry of Economy, Trade and Industry (METI) will energetically pursue negotiations discussions, aiming for the conclusion of substantive negotiations by the end of 2015.

[Third RCEP Ministerial Meeting]

At the Third EAS Economic Ministers’ Meeting, the Economic Research Institute for ASEAN and East Asia (ERIA) presented Comprehensive Asia Development Plan (CADP) 2.0, which includes the idea of Quality Infrastructure advocated by Japan.

State Minister Yamagiwa explained Partnership for Quality Infrastructure, which was announced by Prime Minister Abe in May 2015, and confirmed the understanding of other countries present.