"Lim said that once the Regional Comprehensive Economic Partnership (RCEP) is concluded between ASEAN, Australia, China, India, Japan, South Korea and New Zealand, the region will experience more growth and development. ASEAN groups Brunei, Cambodia, Indonesia, Laos, Myanmar, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Lim said that ASEAN is confident that the regional pact will be completed despite Malaysia’s recent decision to backtrack on its commitment to the deal, and the intensifying trade spat between Japan and South Korea. “I am optimistic that RCEP negotiations will continue as planned,” he told reporters during a forum in Bangkok. If concluded successfully, the RCEP could be one of the largest trade blocs in the world, accounting for 45 percent of the world’s population, 40pc of global trade, and about one third of the world’s GDP. Lim said Myanmar need not immediately join the RCEP, but can take its time in preparing its economy before agreeing to the pact..."