Asean countries agree to conclude RCEP negotiations

[艹艹艹]

Asean countries agree to conclude RCEP negotiations
March 10, 2020, 3:50 pm

DA NANG – Asean countries have agreed to try and persuade India to return to the negotiating table for the 16-nation Regional Comprehensive Economic Partnership (RCEP) trade deal.

Representatives of Asean countries also discussed investment service regulations and a flexible open-door market policy among the 16 nations.

The discussions were implemented at the preparatory RCEP meeting in the central city -- one of a series of activities including the Asean Trade Negotiating Committee (Prep Asean TMC) for Asean economic ministers (AEM) caucus meeting on RCEP at the 26 AEM Retreat -- on the second working day Monday.

Deputies from Asean also agreed to fix a schedule for ending negotiations at yesterday’s meeting.

Vietnam, in its role as Asean Chair in 2020, has coordinated with regional countries to ensure the benefits of all Asean members and would act as a bridge with India.

Participants agreed that despite India’s withdrawal, the RCEP would still be a big free trade that sets a common trade rule.

However, Asean members also expressed their expectations that the participation of 16 countries would bring huge benefits for all members.

Negotiations for the RCEP, which started in 2012, have targeted strengthening economic cooperation among the 10 Asean members with China, Japan, Korea, Australia, India and New Zealand.

The RCEP is home to 30 percent of the world’s population and 29 percent of the world’s gross domestic product (GDP).

Vietnam has proposed initiatives, priorities and cooperation plans for discussion, consultation and consensus with member states to conclude negotiations.

Monday’s preparatory meeting was the second working day after the Preparatory Senior Economic Officials Meeting preluding the 26th ASEAN Economic Meeting (AEM) Retreat.

The 26th ASEAN Economic Meeting Retreat will take place in Da Nang on March 10 before the Asean Business Advisory Council (Asean-BAC) Consultation on March 11. (VNS)

 

[艹艹艹]

RCEP partners press ahead with legal tweaks
PUBLISHED : 18 APR 2020

Regional Comprehensive Economic Partnership (RCEP) dialogue partners are advancing the review of legal texts, expecting the process to finish in July so the pact can be signed later in the year during the Asean Summit as scheduled.

Auramon Supthaweethum, director-general of the Trade Negotiations Department, said the working panel handling the legal text-scrubbing for the pact has already finished six chapters and is working on the remaining 14 chapters.

The coronavirus has put off most face-to-face meetings for Asean and the RCEP in the first half of the year, forcing dialogue partners to use video conferencing or virtual meetings to discuss scrubbing of the legal texts for the remaining chapters.

The first video conference was applied to the RCEP Trade Negotiation Committee meeting on April 7. The next video conference of such a committee is scheduled for April 20-24.

"The scrubbing of the legal texts for the pact should be finished by July so RCEP members have enough time for consideration before officially signing the pact late in the year during the Asean Summit in Vietnam," Mrs Auramon said.

The RCEP is a proposed free trade agreement between the 10 member states of Asean and six dialogue partners: China, Japan, South Korea, India, Australia and New Zealand.

Negotiations on the RCEP started in late 2012 at the 21st Asean Summit in Phnom Penh.

In last-minute talks on Nov 4 last year, with Thailand as Asean chair, India pulled the plug on joining the RCEP over unresolved issues, especially those concerning agricultural tariffs.

India later announced it would not be joining the pact this year during the Asean Summit in Vietnam.

India is concerned that the deal could affect the livelihood of its most vulnerable citizens and lead to a rising trade deficit and a flood of imports, especially cheap goods from China.

The RCEP's leader statement noted that 15 participating countries have concluded text-based negotiations for all 20 chapters and market access issues.

With or without India, the RCEP deal has been scheduled for official signing this year, coming into force either in 2021 or January 2022.

Mrs Auramon said signing the RCEP is crucial to the region, especially with the pandemic delivering a heavy blow to the world's economy.

The pact is expected to boost exports and upgrade Thai farm and food products, especially for sugar, processed food, tapioca, shrimp and rice, and create new trade and investment opportunities for Thai operators, particularly small and medium-sized enterprises.

 

[JafarQureshi]

Pakistan should join RCEP. China should help.

 

[powastick]

Let me guess, Japan withdraw due to pressure from US.

 

[JafarQureshi]

Let me guess, Japan withdraw due to pressure from US.

You meant India?

 

[atan651]

This trade pact must not be derailed by some trouble makers. Let's hope it is sealed and delivered by year end.

 

[Daniel808]

S. Korea takes part in videoconferences for Asia-Pacific trade deal
11:00 April 19, 2020

SEOUL, April 19 (Yonhap) -- South Korea said Sunday it will participate in a series of videoconferences this week in line with efforts to conclude a mega Asia-Pacific trade deal this year and revitalize global exchanges amid the new coronavirus pandemic.

During the meetings, which will be held on three different days this week, participants will exchange ideas to finalize the crucial Regional Comprehensive Economic Partnership (RCEP), according to the Ministry of Trade, Industry and Energy.

The RCEP will herald a mega economic bloc that accounts for half of the world's population and one-third of the total gross domestic product across the globe.

The participants earlier vowed to hold videoconferences frequently to speed up the efforts to conclude the agreement despite the COVID-19 pandemic, according to the ministry.

The latest meeting will focus on settling further details of the deal, while seeking to induce India to return to the table.

India, which did not join the preliminary agreement, has cited a significant gap over tariffs and other issues.

The RCEP is especially crucial for South Korea, whose outbound shipments have been losing ground amid the U.S.-China trade spat and a slump in the global chip industry.

On the back of South Korea's efforts to diversify its export portfolio, Southeast Asian countries accounted for more than 20 percent of outbound shipments last year for the first time, rising from 19.1 percent posted in 2018.

South Korea has been making efforts to revitalize its exports by urging trade partners to lift regulations for essential travel of business officials and maintain supply chains amid the pandemic.

The country's outbound shipments came to US$12.2 billion in the April 1-10 period, down 18.6 percent from the same period a year earlier, according to the data from the Korea Customs Service.

colin@yna.co.kr
(END)
https://m-en.yna.co.kr/view/AEN20200419000400320

Pakistan should join RCEP. China should help.

Why not? If Pakistan government apply to RCEP, I believe Chinese will support that.

RCEP after officially signed will become The Largest Trading Economic Bloc in this World


Congrats

 

[Paul2]

RCEP after officially signed will become The Largest Trading Economic Bloc in this World

Yes, and I am surprised why it has happened so quiet, and low key

 

[艹艹艹]

India skips another round of RCEP trade talks

TOKYO (Kyodo) -- India sat out the latest round of negotiations for an envisioned 16-nation regional free trade agreement, a diplomatic source said Friday, fueling speculation that it may withdraw from the talks.

Senior officials from 15 other countries involved in the Regional Comprehensive Economic Partnership, a sprawling pact that would cover a third of the global economy, held a virtual meeting from Monday through Friday amid concerns over the novel coronavirus.

India skipped negotiations in Bali, Indonesia, in February, having said in November that it wants to pull out amid concerns that opening up its market would lead to a wider trade deficit with China.

The countries, including Australia, China, Japan, New Zealand, South Korea and the 10 members of the Association of Southeast Asian Nations, began talks in 2013 but have blown past consecutive deadlines to sign an agreement.

They are currently aiming to ink a deal by the end of the year, with Japan offering to help India resolve the "outstanding issues" keeping it from returning to the negotiations.

 

[seven7seven]

Just drop India from the deal. A reluctant partner will almost certainly be an unreliable partner. The other countries in RCEP shouldn't have to make concessions to a peasant country like India.

 

[rott]

Let me guess, Japan withdraw due to pressure from US.

Same with India. US pressure I think.

 

[Daniel808]

India skips another round of RCEP trade talks

TOKYO (Kyodo) -- India sat out the latest round of negotiations for an envisioned 16-nation regional free trade agreement, a diplomatic source said Friday, fueling speculation that it may withdraw from the talks.

Senior officials from 15 other countries involved in the Regional Comprehensive Economic Partnership, a sprawling pact that would cover a third of the global economy, held a virtual meeting from Monday through Friday amid concerns over the novel coronavirus.

India skipped negotiations in Bali, Indonesia, in February, having said in November that it wants to pull out amid concerns that opening up its market would lead to a wider trade deficit with China.

The countries, including Australia, China, Japan, New Zealand, South Korea and the 10 members of the Association of Southeast Asian Nations, began talks in 2013 but have blown past consecutive deadlines to sign an agreement.

They are currently aiming to ink a deal by the end of the year, with Japan offering to help India resolve the "outstanding issues" keeping it from returning to the negotiations.

Good..
We don't need Trojan horse

 

[Paul2]

India skips another round of RCEP trade talks

TOKYO (Kyodo) -- India sat out the latest round of negotiations for an envisioned 16-nation regional free trade agreement, a diplomatic source said Friday, fueling speculation that it may withdraw from the talks.

Senior officials from 15 other countries involved in the Regional Comprehensive Economic Partnership, a sprawling pact that would cover a third of the global economy, held a virtual meeting from Monday through Friday amid concerns over the novel coronavirus.

India skipped negotiations in Bali, Indonesia, in February, having said in November that it wants to pull out amid concerns that opening up its market would lead to a wider trade deficit with China.

The countries, including Australia, China, Japan, New Zealand, South Korea and the 10 members of the Association of Southeast Asian Nations, began talks in 2013 but have blown past consecutive deadlines to sign an agreement.

They are currently aiming to ink a deal by the end of the year, with Japan offering to help India resolve the "outstanding issues" keeping it from returning to the negotiations.

This is what I wrote about in November https://defence.pk/pdf/threads/indi...largest-trade-pact-simple-explanation.642431/

The events of last few months have shown it went exactly as I said.

Bringing you political education once more

Why did India walk out of RCEP negotiations just a day after its last moment demands failed?

Was Modi really staking 8 years of negotiations on such a cheap play?

Look no further than the history of negotiations to understand the reason.

First important point: India entered RCEP negotiations prior to BJP coming to power, they treat it as a "enemy project." Since the change of establishment, BJP kept debasing rhetoric going for every Congress' trade negotiations. At the same time, Modi's people kept negotiating RCEP quite enthusiastically, and got a number of extremely good concessions. In fact, Indian side got the most concessions out of all parties.

Second: It was not the concern for Indian small business that motivated Modi. Prior to RCEP, BJP had no qualms to sign FTAs on minute notice, even with their current trade antagonists.

Third: Was the deal not good enough? No! India got the best, and most incredible concessions out of everybody in writing:

• Labour mobility agreement — I have no idea how they strongarmed Singapore, Japan, and Korea on that, but they did it.
• Making Japan and Korea to pull pharmaceutical patent protection to open their markets Indian made generic medicines.
• A number of 5 and more years long custom duty handicaps for their domestic industry. This already included the diary industry, which allegedly was the biggest reason for pullout
• Specifically, all their last minute demands regarding new anti-dumping barriers, and letting nations to impose arbitrary temporary tariff, was already a subject of negotiations in 2015 round. India's Nov 2 demands were just unneeded rephrasing of them

Resulting conclusion: Modi's government never had an intention to sign RCEP in the first place. They inherited the project from the previous establishment, and it was a "political stepchild" that was kept on sidelines of agenda till the last moment. On other side, BJP kept doing some face saving moves by keeping it alive, and pretending to be actively engaged.

When it was finally up to Modi to do something about it, fly abroad to a big, prestigious event, and show his grandstanding, he though "no harm trying, if it is to die anyways," and decided to pull the trick with his last minute demands and those bordered on pretty much nullifying most of RCEP concessions India made.

Were other RCEP members to loose their right mind and OK Modi's last minute demands, he would've taken that and laud himself as a great politicians. Were they not, he would've shown a sad face, and do what he did.

Of course the second happened, but he really had a good deal on hand, and he threw it away.

Plainly speaking, Modi government never had any goodwill with RCEP to begin with. They though "no harm trying, right?," and they tried to pull their last minute trick. It didn't work out for them, Modi shows poker face, and savours everybody's disappointment.

Now they are completely not serious, only coming to remaining rounds for free snacks, and an opportunity to troll people more.

Modi's vision of India is an isolationist India of Nehru era. Just replace Nehru, and Indian left with Modi, and add some saffron nationalists.

 

[Paul2]

Collective Trauma and the Evolution of Nehru's Worldview: Uncovering the Roots of Nehruvian Non-Alignment​

This is the best read I had in a while. Nehru was just like Modi, talking big at home about overtures abroad, but in reality a determined, hardcore ideology driven isolationist.

Modi similarly, wants to preserve "good old times" of when his ideological construct was safe from collision with reality

Modi knows, just like Nehruist idea of "happiness in poverty, and downtroddenness," his holy saffron Koolaid will not survive the collision with the modernity.

He will not be able to keep mobs ecstatic for long when his electorate will have so much exposure to the outside world, and start to ask him questions.

People like Modi share the sentiment "I will even live in a ditch, if that ditch is my own ditch"

 

[Song Hong]

Shytty Japan pull in India.

India is there as "Sabotager" to stop East Asian Integration

Else everything done long time ago.