ASEAN and its six partners will hold a ministerial meeting in Bruneifrom August 20-22 to discuss political orientations for the RegionalComprehensive Economic Partnership (RCEP) negotiation process.

According to Indonesian Minister of Commerce Iman Pambagyo, themeeting between the 10 ASEAN members and China, Japan, the Republic ofKorea, Australia, New Zealand and India (ASEAN+6), is expected topromote the efficiency of upcoming negotiation rounds.

Themeeting will further deliberate on the proposed methods of RCEPnegotiations and agreements reached at the first round of negotiationsin Brunei earlier in May.

According to theagreements, goods, services and investment are the priority fields to bediscussed in the framework of the negotiation rounds.

The RCEP negotiations are expected to conclude by 2015, and onceestablished, the partnership will be the world’s largest free trade areawith over three billion people, accounting for half of the globalmarket and one third of the world economic output.

As scheduled, the second round will be held from September 24-27 in Australia.

RCEP negotiations were initiated by ASEAN+6 leaders on the sidelinesof the 21st ASEAN Summit in Cambodia last year.

ASEANincludes Brunei, Cambodia, Indonesia, Laos, Malaysia,Myanmar, the Philippines, Singapore, Thailand andVietnam-VNA