Sixteen Asian and Oceanian countries Monday agreed to adopt common tariff rates in principle under a proposed regional free trade pact.
The countries agreed to work out a broad plan for tariff reductions and elimination under the Regional Comprehensive Economic Partnership pact before a ministerial meeting is held in Myanmar in summer 2014, said sources with access to the conference.In addition, the nations confirmed that they will speed up discussions so that they can end the RCEP talks by the end of 2015.
