In a break from past trade pacts, India has agreed to provide future domestic policy concessions in investment and services sectors to RCEP members with a five-year gap
Reiterating the importance of concluding the Regional Comprehensive Economic Partnership (RCEP) agreement, economic ministers yesterday agreed to step up negotiations and break the stalemate to come up with realistic achievements that would stem the tide of trade protectionism by some of the world’s largest economies.
ASEAN economic ministers have reportedly broadly agreed to sharply reduce barriers on almost all of their product lines in a bid to make the Regional Comprehensive Economic Partnership (RCEP) trade agreement a reality. Though this might represent an incremental step forward in dramatically lifting trade within an area boasting almost 40 percent of global GDP, familiar challenges still remain.
The negotiations for the proposed mega trade deal - RCEP - would miss the deadline of concluding the talks by December this year, Commerce and Industry Minister Nirmala Sitharaman said today.
The 16 member states of the Regional Comprehensive Economic Partnership (RCEP) have agreed to finalise negotiations on the pact before the end of this year, while Asean will conduct a feasibility study for Asean-Eurasian free-trade talks.
At the third round of the Regional Comprehensive Economic Partnership (RCEP) Negotiations, the 16 participating countries pursued an intensive exchange of views to advance the negotiations in order to meet the target of concluding the negotiations by the end of 2015.
The leaders of the 10-member Association of Southeast Asian Nations (ASEAN) looked forward to the early conclusion of negotiations in a statement following their meeting in Kuala Lumpur, Malaysia, on November 21.
<p>Time: 2024 By: Ministry of Industry and Trade</p>
