Indian negotiators are in Bangkok trying to insert crucial provisions in the proposed Regional Comprehensive Economic Partnership (RCEP) pact.
India’s difficulty in acceding to the mega regional free trade agreement RCEP is reflective of a deep malaise in not just its trade policy but also domestic economy.
Negotiators representing 16 countries have been tasked with arriving at an agreement on the controversial Regional Comprehensive Economic Partnership by October 19 but trade unions say the deal has grave consequences.
At a media interaction in New Delhi, experts from civil society organisations enumerated damages that could be caused to various sectors of the Indian economy if India signed the deal.
Over the past few years, one of the few bright spots in trade that has been in the spotlight is the RCEP. While the initiative continues to receive a lot of headlines, obstacles remain to it becoming a reality.
Real lives and livelihoods are at stake. That is why people are saying ‘No’ to RCEP!
If India is going ahead with RCEP negotiations, India must insist on rules of origin mandating significant domestic value addition in the country of the final exporter as well as strengthen bilateral mechanisms for ensuring compliance.
National co-convener of Swadeshi Jagran Manch Ashwani Mahajan tells ThePrint that from dairy sector to steel, chemical and automobile, no one wants RCEP.
PM Narendra Modi will take up India’s unresolved issues in the proposed Regional Comprehensive Economic Partnership trade agreement at the leaders’ summit next month if the 16 members are unable to resolve them over the next few days.
RCEP meet: India had proposed certain tweaks in the negotiating text of electronic commerce during the 9th Intersessional Ministerial Meeting.
Trade ministers to meet again on 1 Nov as India’s tough talk on market access continues and negotiators have been asked to resume talks to bridge differences by 19 October.
In the talks, the Chinese president also agreed to take sincere steps in a concrete way to address India’s concerns over ballooning trade deficit in China’s favour.
Ministers from 16 countries, including Japan, China, South Korea and the 10 members of the ASEAN made headway for their goal of concluding their negotiations on the proposed RCEP free trade deal by the end of this year.
RCEP militates against several of India’s critical interests. At least two countries from among the participating countries could seriously challenge India’s rural economy since they are seeking to enter the markets for wheat, sugar and dairy products.
The RSS-affiliated Swadeshi Jagaran Manch on Thursday announced that it would hold a nationwide protest against the Regional Comprehensive Economic Partnership (RCEP).
India has proposed locating computing facilities inside the country if it is meant to protect its essential security interests and national interests at the the ongoing negotiations of the proposed RCEP trade agreement.
People’s movements note with deep concern the developments with respect to India’s position on the proposed Regional Comprehensive Economic Partnership (RCEP)
Beijing continues to decline New Delhi’s demands on issues relating to market access. And India is worried that a further liberalized tariffs regime to China could harm domestic industry
India has viewed FTAs as an important tool to enhance its trade and investment, and signed a number of trade agreements with various countries or groups. And India’s experience intrade with its major FTA partners has not been very encouraging.
Trade ministers of the 16-nation RCEP grouping will meet in Bangkok on October 10-12, in what could be the last ministerial before a potential deal is sealed in November.