RCEP
Regional Comprehensive Economic Partnership (ASEAN+6)
India has decided to pull out of the RCEP, an invitation to join later still standing. Even though the reasons provided for this fallout do not mention it, but one of the major contentions was the e-commerce chapter to which India did not relent.
Reacting to the developments in Thailand, with countries in RCEP negotiations deciding to go ahead for now without India, farmer leaders in India stated that this is a good development, and that India will not lose in any manner.
India and China could look at a bilateral understanding on RCEP, which could mean an opportunity for India to consider joining the pact.
Indonesian Trade Minister brought attention to prioritizing the prompt conclusion of several international trade negotiations in 2020, including RCEP and deals with Tunisia, Morocco, the EU and Turkey.
Data shows that poverty reduction slows down in areas impacted the most strongly by trade liberalisation, says the book.
he EAEU deal may well be championed in India as a game-changer, and in certain sectors it will be. But what India really needs is the motivation and initiative to compete with China.
A Chinese state-run English daily said, “the countries involved in the Regional Comprehensive Economic Partnership shouldn’t lose the chance to include India."
In the short- and medium- terms, however, it seems unlikely that those additional rules will facilitate any significant increase in Australian exports to ASEAN.
Benny Kuruvilla from Focus on the Global South spoke with trade expert, Prof. Biswajit Dhar from the Jawaharlal Nehru University and Ranja Sengupta, senior economist with the Third World Network.
While India has now opted out of the RCEP negotiations, it has not completely abandoned its policy of pursuing free trade agreements
China aims to press ahead with 15 remaining RCEP members. Japan had sought to balance China by involving India.
But decision to stay out is final for now, says Commerce Minister.
The CTU is concerned that the "upgrade" of the New Zealand-China Free Trade Agreement has not removed the threat of investor suits against the New Zealand government.
New Zealand being granted an FTA upgrade right now rubs it in to Australia that only those who play nicely with China can expect rewards.
A common set of rules on intellectual property (IP) and e-commerce and a new scope of trade for telecommunication services are among some of the expected benefits that will arise from the RCEP agreement when it is signed next year.
The disastrous impact of the Indo-Sri Lanka FTA and ASEAN FTA on Indian farmers especially in the plantation sector is well known. RCEP would be worse than ASEAN FTA
India’s departure from the RCEP announced yesterday in Bangkok is not only caused by India’s resistance to lower tariffs. There is a hidden agenda of non-tariff issues that could restrict future government regulation by giving more rights to global corporations.
A free trade deal that would have created a trading bloc covering half of the world’s population and more than a third of the world’s economic activity will stay on hold until 2020 after India refused to sign up.
India has decided not to join Regional Comprehensive Economic Partnership (RCEP), the mega Asian trade agreement between 16 countries with almost half the world’s population.
Trade Justice Pilipinas have come out on the streets over the last few weeks to lead various protest actions across the region against the RCEP—touted as the biggest regional free trade and investment deal.
