RCEP SPECIAL

Trade Ministers Meeting, Singapore on 30-31 August 2018

Views & Articles

＃India set to stress on RCEP in Singapore on Thursday after PMO nod

＃India must safeguard its interests. RCEP benefits not analysed

＃India must delay RCEP negotiations for 2-3 years or exit

＃RCEP will be another Japan/Korea CEPA for steel

＃A recent NITI Aayog “note” on Free Trade Agreements and their “costs” points out that India’s trade deficit with the RCEP group (it already has FTAs with the ASEAN, South Korea and Japan) has risen from $9 billion in 2004-05 to over $80 billion today. Its trade deficit with China alone was $63 billion in 2017-18, or about 60 per cent of its overall trade deficit. The bilateral trade deficit has risen exponentially from $0.6 billion in 2000-01 to current levels, and there are no signs of this trend reversing. 

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Δ Labor unions and workers’ rights advocates fear that the secretive RCEP agreement will further erode workers’ rights in the Asian region - Singapore 

Δ Talks on RCEP have reached critical stage, could be 'substantively concluded' soon: PM Lee, Singapore

Δ Not in India's national interest to be left out of RCEP trade deal: Tommy Koh, Singapore 

Δ The escalating trade war between the US and China has prompted the Association of Southeast Asian Nations to call for accelerated negotiations on the RCEP

Δ The negotiations of the Regional Comprehensive Economic Partnership (RCEP), involving 16 Asia-Pacific countries, are failing international standards of transparency and public participation, according to a study titled “RCEP: A secret deal” conducted by several international organizations.

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Foreign pressure mounting on India to seal RCEP inspite of knowing that RCEP will be disastrous for Indian trade. Services & Investment cannot be favored by giving away trade. India has to be selective NOT SUBMISSIVE.