Regional Comprehensive Economic Partnership (ASEAN+6)
India’s focus has shifted to the creation of a strong domestic agricultural and industrial base, and therefore, joining the RCEP no longer appears to be a priority.
“It’s not as bad as the worst agreements out there” really shouldn’t be a cause for celebration.
China’s renewed pursuit of a free trade agreement with South Korea and Japan appears aimed at undercutting US influence and shaping regional economic cooperation on terms favorable to it.
Australia’s recent signature of the RCEP has attracted world attention for its significance in consolidating Asia-Pacific geopolitical relations. But in celebrating this agreement, we seem to have forgotten its unfinished business regarding labour and human rights.
China will step up efforts to expand the free trade area network across the world to enlarge its “circle of friends”, according to China’s Commerce Minister Zhong Shan.
The inclination is clearly towards bilateral trade agreements, where India has more flexibility in negotiating terms that it feelss wouldn’t disadvantage domestic manufacturers.
The challenge is not that the world’s biggest trade deal is China-led or heralds a Sinocentric order – both of which are misrepresentations anyway – but that the Asia-Pacific region has shown no need of US leadership or even involvement.
India, which has not signed any trade agreement since 2012, will soon revive talks on the possible free trade agreement (FTA) with the European Union and the US.
India’s decision to stay out of the China-backed Regional Comprehensive Economic Partnership, or RCEP, Asia’s mega free-trade agreement (FTA), has been met both with a sense of approval and disappointment and divided economists on the issue.
Japan aims to expand a major regional free trade pact called the CPTPP, Prime Minister Yoshihide Suga said on Friday, potentially catering for China’s and Britain’s interest in joining the deal.
India refused to join RCEP citing reservations that goods manufactured by China could come into India. Jaishankar also said India would like a fair and balanced trade deal with the European Union.
The Regional Comprehensive Economic Partnership (RCEP) that was signed virtually yesterday is a wake up call for the cheerleaders of hyperglobalisation: countries and their peoples have become wary and weary of these mega-free trade deals
In the wake of the successful signing of the world’s largest trade deal - RCEP that encompasses a third of the global economy, a higher level trilateral free trade agreement(FTA) among China, Japan and South Korea is likely to be reached sooner than expected.
Seeing the pact as a vital tool for economic recovery and growth, Thai ministry expects free trade among RCEP members to start by the middle of next year, following almost eight years of talks.
RCEP is a threat to people’s rights. Thus, it is imperative that the people push back the neoliberal narrative of RCEP and confront the corporate dictates over economic and political policies.
Fifteen countries will sign a mega-trade deal at the ASEAN conference this weekend imposing secretive restrictions on how governments help workers through the pandemic, trade union leaders and parliamentarians have warned.
Even as the new agreement between ASEAN nations and its free trade partners establishes the largest trading bloc in the world, it is vehemently being opposed by labor unions, trade justice groups and women’s movements
Fifteen Asia-Pacific economies signed what could become the world’s largest free trade agreement on Sunday, covering nearly a third of the global population and about 30% of its global gross domestic product.
India will avoid joining agreements which are actually trade pacts by stealth with China and instead explore trade agreements with developed countries with large markets such as the US and EU where Indian products and services would be competitive unlike ASEAN.
Trade-dependent Taiwan has made relatively good progress towards joining the revamped version of the Trans-Pacific Partnership, but it is awaiting clearer rules on membership, the island’s chief trade negotiator said.