Despite India’s decision to walk out of the ASEAN-led 15-nation RCEP Free Trade Agreement last month, officials from India’s Indo-Pacific partners Australia and Japan are still discussing the issue in the hope that the government will rethink the decision.
The Japanese government will also be worried about a sluggish economy and there will be no appetite for liberalization measures that impose pain on Japanese businesses.
The United States and Japan will begin consultations early 2020 in order to enter into negotiations on a broader trade agreement.
The Japan-US trade agreement designed to reduce or eliminate a broad range of import tariffs was approved by majority vote of the ruling Liberal Democratic Party and others in the upper house of the Diet.
Japan may refrain from signing an India-less Regional Comprehensive Economic Partnership (RCEP).
Abe seeks to bolster India ties to balance China’s clout.
India and Japan did not make any tangible progress on some of the sticky issues facing both sides, mainly on a breakthrough in the civil nuclear deal, acquisition of Amphibious aircraft or progress in the bullet train project.
Keen to have India back in the Regional Comprehensive Economic Partnership (RCEP), Japan has reached out to New Delhi to help address its concerns including those on trade deficit.
The two Asian powerhouses have recently been locked in a trade dispute but tensions “have de-escalated compared to what the situation was in summer,”
Weeks after India decided not to join RCEP, the government on Wednesday said that it had sought a review of its existing trade agreements with the ASEAN and Japan.
China, South Korea and Japan will hold a new round of negotiations on the trilateral free trade agreement (FTA) this week in Seoul.
Turkey and Japan aim to finalize negotiations on an economic partnership deal by the end of 2019.
With India appearing to have exited the Regional Comprehensive Economic Partnership (RCEP), negotiators remain committed to bringing the country back into the fold as an "indispensable" member of the deal
Negotiations about Britain’s entry into the free trade bloc can’t really take place as long as it remains an EU member.
China aims to press ahead with 15 remaining RCEP members. Japan had sought to balance China by involving India.
Sections of Indian industry, farmers and dairy sector have expressed concerns over the mega trade deal.
The Office of the US Trade Representative released late last year a summary of negotiating objectives spanning 22 areas, including telecommunications and financial services.
If the United States and others following in its footsteps begin to negotiate agreements that cut tariffs on a significantly smaller scope of products, the WTO might confront a gradual erosion of one of its central tenets—most favored nation.
Japan and Georgia are expected to conclude an investment agreement this year, paving the way for negotiations on a wider free trade agreement.
Implementation of the new US-Japan free trade agreement is expected to put US pork producers back on a level playing field in that market and help set the tone for future US free trade agreements.