Regional Comprehensive Economic Partnership (ASEAN+6)
Ministers from 15 Asia-Pacific countries negotiating a sprawling free trade agreement said they have made “significant progress” toward the signing of the deal in November.
The trade ministers of participating in talks on an Asia-wide free trade agreement are set to hold an online meeting, hoping to remove the final obstacles to a deal by the end of the year.
The Commerce Ministry will ask the cabinet for approval to sign the Regional Comprehensive Economic Partnership (RCEP) in October, one month ahead of the pact’s official scheduled signing in Vietnam.
The Regional Comprehensive Economic Partnership (RCEP) has entered the legal scrubbing phase and is expected to be signed soon without India.
Negotiations on the Regional Comprehensive Economic Partnership (RCEP) have entered the final stage of legal scrubbing and are set to be signed soon, with the exclusion of India.
The Thai Ministry of Commerce will push the country’s Cabinet in October to consider signing the Regional Comprehensive Economic Partnership (RCEP) agreement.
Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch has opposed the proposed India-US trade deal in its current form stating that New Delhi can’t meet Washington’s asks on e-commerce, data flows, dairy and patents.
There are those in Japan who insist that the RCEP agreement must be signed even without Indian participation. The signing is scheduled for November in Hanoi.
By opting out of RCEP, PM Modi had already shown the way. This is an opportunity for the domestic economy.
The top minister said that the trade deficit of countries part of the Regional Comprehensive Economic Partnership (RCEP) has nearly doubled over the past 15 years, while their manufacturing levels also remain abysmally low.
The biggest concern of India with RCEP at this juncture is not merely the economic reasons, but more geopolitical: the existence of China.
Australia has reaffirmed its commitment to signing the Regional Comprehensive Economic Partnership (RCEP) trade agreement despite rising political tensions with China.
India said both New Delhi and Washington are now “nearer” to a smaller trade deal than ever before as the US believes a free trade agreement (FTA) is possible even as India has walked out the Regional Comprehensive Economic Partnership (RCEP).
A series of high profile officials in Beijing have recently voiced openness about China joining a trans-Pacific trade pact abandoned by the United States in one of the first acts of Donald Trump’s presidency.
Indonesia is eagerly anticipating the signing of the Regional Comprehensive Economic Partnership (RCEP) in November, believing the China-led trade pact could pave the way for more economic activity and a stronger recovery from the Covid-19 pandemic.
South Korea said will push for the conclusion of a mega Asia-Pacific trade deal this year to help boost ailing exports and cope with the growing protectionism around the globe in the face of the new coronavirus pandemic.
Once RCEP is signed, it needs to be ratified by all member states for it to come into force, which could take quite a while.
Fifteen Asia-Pacific countries will sign the RCEP trade pact by the end of 2020 but India will not be among them.
Indonesia and 14 other negotiating countries agreed Tuesday to sign the Regional Comprehensive Economic Partnership (RCEP) this year to help their economies recover from the pandemic-induced downturn.
Trade ministers of the 10-member states of ASEAN and Free Trade Agreement (FTA) Partners (Australia, China, Japan, Korea, and New Zealand) reaffirmed the signing of the RCEP Agreement before end of 2020.