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regional comprehensive economic partnership

Jan 23, 2020, 01.53 AM IST

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REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP

Govt yet to take call on RCEP meeting invitation

The ASEAN Secretariat has invited India to attend the meeting to sort out its issues related to the proposed free trade deal. “India has received the invitation for the meeting. No decision has been taken on the issue,” said an official.

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  • ISSDA also urged the government for simultaneous imposition of 12.5% custom duty on stainless steel flat product imports in order to bring it at par with carbon steel. The association has also sought abolition of 7.5% import duty on graphite electrodes, another major raw material for stainless steel manufacturing, an official statement said.

    BRI is China's global economic initiative for connecting with Europe, Africa and the rest of Asia through road and maritime routes with focus on infrastructure, transportation and energy sectors. Swamy suggested that instead of passing through PoK, the BRI corridor can enter India from Kunming in southwestern China and from Kolkata Port it can take the sea route.

    India needs development finance institutions (FIs) to fund the capital expenditure needs of Indian companies, said JSW Group chairman Sajjan Jindal.

    Union Minister for Commerce and Industry, Piyush Goyal, on Monday (December 30) said that India had decided not to join the Regional Compreh...

    India has made a pitch after it decided to stay away from the RCEP agreement — the mega trade block comprising China, Japan, Korea, the Asean countries, Australia and New Zealand. After Brexit, India also proposes to push for a trade deal with the UK as it seeks greater market access for textiles and some farm products in European markets.

    In November 2017, India, the US, Australia and Japan gave shape to the long-pending "Quad" Coalition to develop a new strategy for keeping the critical sea routes in the Indo-Pacific free of any influence. China has been trying to expand its military presence in the Indo-Pacific, which is a biogeographic region, including the South China Sea.

    National Security Adviser Ajit Doval and Chinese Foreign Minister Wang Yi held talks on decades-old Sino-India boundary issue on Saturday under the framework of Special Representatives dialogue.

    “Globally, a large part of international trade is happening via the preferential route. To increase India’s share in value chains, diversifying our export markets and export products, the country must increase its participation in RTAs,” the CII said in a report titled ‘India’s Exports — Trend, Challenges and Future Strategy’, released on Tuesday.

    Chinese Ambassador Sun Weidong said that discussions were underway between the two sides to operationalise a high-level economic and trade dialogue mechanism to further boost bilateral trade and investment as decided by Modi and Xi.

    Govt has to bring in many more talented professionals and get them involved in the policymaking process.

    Based on a complaint by the US, a World Trade Organisation (WTO) panel has determined that India’s export subsidies are inconsistent with WTO requirements. India has appealed against the decision.

    "All the 16 leaders are working to resolve issues related to India on RCEP in a satisfactory way," Atsushi Kaifu, Deputy Press Secretary in the Japanese Ministry of Foreign Affairs said here. His comments came a day after India and Japan held their first foreign and defence ministerial talks to further strengthen strategic ties.

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