The upcoming summit meeting of the Association of Southeast Asian Nations, or ASEAN, will acknowledge economic headwinds. But officials also express hope that a free trade pact will help the global economy.

A series of summit meetings of the 10-member ASEAN will begin in Thailand on November 2.

The draft of the chairman’s statement obtained by NHK expresses serious concerns about the global economy. It notes that tensions are mounting over protectionism and anti-globalization.

The document also expresses hope for the Regional Comprehensive Economic Partnership, or RCEP, amid the US-China trade conflict.
Sixteen countries including ASEAN members, Japan, China and India will take part in negotiations for the deal.

Participants aim to complete free trade negotiations in the summit meeting on RCEP.

The draft statement says it would contribute greatly to an open international trade system.

But differences remain among RCEP participants. India has been reluctant to open its market significantly.

Source: https://www3.nhk.or.jp/nhkworld/en/news/20191021_15/