Countries in the Regional Comprehensive Economic Partnership (RCEP) are against India’s push for liberalisation in services sectors.
In a move likely to inject momentum into the Regional Comprehensive Economic Partnership (RCEP) talks, India has indicated it is willing to compromise on its three-tiered tariff schedule.
India has raised its pitch for greater market access for professionals in the proposed regional comprehensive economic partnership (RCEP)
India’s Commerce Minister Suresh Prabhu said RCEP negotiations may be taking longer than expected because of the economic diversity among member countries.
Nations have increasingly got entrenched in their positions over reduction in tariffs and opening of market access.
In services sector, India is pushing for business visitor commitment for smooth movement of professionals, according to the government official.
The Regional Comprehensive Economic Partnership is a trade deal that aims to cover goods, services, investments, economic and technical cooperation, competition and intellectual property rights.
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.
The next round of negotiations for the proposed mega trade deal, Regional Comprehensive Economic Partnership (RCEP), would take place in April in Australia.
During the RCEP talks, India would press for greater market access in the services sector, particularly easy movement of professionals
On 12 October, the closing day of the Asia Pacific Regional Conference in Fukuoka, around 250 delegates representing more than 70 PSI affiliates from 18 countries resolved to intensify the struggle against the ambitious Regional Comprehensive Economic Partnership under negotiation among 16 countries in the region.
Requests to Thailand, Indonesia, Philippines and Viet Nam, dated October 2015
RCEP services chapter consolidated negotiating text as of 5 August 2015.