The countries involved have made inroads in ironing out differences and resolving previously contentious issues, he said. Several countries in the Asia Pacific are working toward finalising the Regional Comprehensive Economic Partnership ( RCEP ) , a trade agreement that would comprise one - third of the global economy . The region comprises China , Japan , South Korea , India , Australia , New Zealand and the 10 Association of Southeast Asian Nations . Jose Lopez , the Philippines ' secretary of trade and industry , said the protectionist rhetoric from the US had helped speed up talks , and added that negotiations could be concluded this year .
Several countries in the Asia Pacific are working toward finalising the Regional Comprehensive Economic Partnership ( RCEP ) , a trade agreement that would comprise one - third of the global economy . The region comprises China , Japan , South Korea , India , Australia , New Zealand and the 10 Association of Southeast Asian Nations . Jose Lopez , the Philippines ' secretary of trade and industry , said the protectionist rhetoric from the US had helped speed up talks , and added that negotiations could be concluded this year .