India will register its unhappiness with the “inadequate’’ fresh offers in services made by partner countries negotiating the mega regional comprehensive economic partnership (RCEP) as members converge in Indonesia this week for a crucial round of talks.
As the Trans-Pacific Partnership (TPP) made significant headway in January, negotiating countries in the Regional Comprehensive Economic Partnership (RCEP) are pressured to conclude the trade deal, and they try to make progress in the ongoing talks in Indonesia.
The Singapore government has rejected a request from the Sri Lankan government for the movement of natural person (mode 4) be completely opened under the Free Trade Agreement.
While “significant” challenges remain, all three ministers said some progress has been made this round.
Professional National Front, an alliance of the professional associations and trade unions have observed serious violations of the law, best practices and hence the good governance in the negotiation process of the free trade Agreement. They took steps to inform all ministers of the cabinet including the president, in writing but their plea has not been heard.
India’s Commerce Minister Suresh Prabhu said RCEP negotiations may be taking longer than expected because of the economic diversity among member countries.
Ahead of the Sri Lankan government’s move to sign a Free Trade Agreement (FTA) with Singapore, a collective of professional movements have expressed grave concerns and stated that there were serious violations of the law, best practices and good governance in the negotiation process of the agreement.
French co. agreed to $275 million to settle 12-year dispute. Engie is the biggest shareholder in water, sewer company.
IEU-CEPA bertujuan mempercepat liberalisasi dan akses pasar untuk perdagangan barang, jasa dan investasi antar kedua pihak dengan mengadopsi standar internasional yang relevan terhadap perdagangan barang, jasa dan investasi; serta mengeliminir dan atau menghapus kendala atau hambatan yang merugikan kedua pihak.
India’s position in the RCEP is the most protectionist among all the member nations. India has been resisting demands from Korea & Japan on intellectual property clauses, and other nations on opening up markets.
India has been resisting pressure from other RCEP member nations to open up 90% of its traded goods to competition. This is due to the reason that the member nations are not ready to improve market access in services, one of India’s core strengths.
In December 2017, the trade and industry ministers of South Korea agreed to expedite negotiations to expand the two countries’ two-year-old free trade agreement to include the service and investment sectors.
While the UK can engage in free trade agreement (FTA) talks with other countries including India only after the process of full disengagement from the EU is complete, talks are already happening unofficially on the potential of such a pact.
The Indian Ministry of External Affairs has taken a strong stand that the country should restrain itself from concluding free trade agreement from which it would not gain in the medium term.
Even though the official negotiations on the Trade in Services Agreement (TiSA) are currently on hold, the questionable foundations of the economic impact assessments on TiSA have increasingly become the focus of attention.
Decades ago it was pharmaceuticals, oil and food. Now tech giants want data to be the next frontier in the free trade agenda.
Turkish and South Korean announced the completion of the approval processes for the Free Trade Agreement. The approval processes of the Service Trade Agreement will also be completed soon, they also stated.
Time and again India has flagged its concerns on the slow pace of services trade.
Two years after the South Korea-China FTA took effect, the two countries are expected to launch a second round of negotiations to further open up the service and investment sectors.