India becomes part of regional trading bloc despite Chinese opposition

[agamdilawari]

NEW DELHI: India overcame resistance from China to become a part of the Regional Comprehensive Economic Partnership (RCEP) agreement, an Asean + 6 grouping which is set to emerge as one of the most significant free trading blocs in the world, government sources confirmed.

Despite Beijing's reservations, India participated in the first round of negotiations held recently for RCEP because of support from several Asean nations led by Malaysia which insisted on India's involvement. The RCEP comprises China, India, Australia, New Zealand, Japan and South Korea apart from the 10-member Asean.

Government sources here as well as Malaysia's minister for international trade and industry Mustapa bin Mohamed told TOI that there was no objection any longer to India's participation in RCEP which seeks to achieve greater regional economic integration. "Let us not go into the past... the fact is that there is complete unanimity in RCEP now and that is what matters,'' he said in reply to a query about China's opposition to India's involvement.

According to government sources, there were certain issues raised by China over India's participation but Beijing had no option but to acquiesce after it noticed popular support for India. The second round of negotiations for RCEP will be held in Australia in September. The agreement is likely to come into effect in 2015.

After it was first proposed in the 2011 Asean summit, RCEP has been looked upon by Malaysia and other nations in the region as one of the most ambitious regional economic integration initiatives meant to integrate Asean economy with the global economy.

Asean countries, many of which have had territorial spats with Beijing in the South China Sea, look upon India as an important partner, not least Malaysia which is fast emerging as a crucial economic partner for India. While the FTA with Asean in services and investment is still being awaited, India's high commissioner to Malaysia Vijay Gokhale said Malaysia has already given India a lot bilaterally in services.

Replying to a query over the India-Asean FTA in services, Mohamed said an agreement will be signed in August.

Mindful of the interests of several Asean countries in South China Sea, India also came out in support of the demand for a code of conduct to avoid any conflict in the disputed region. "We urge all parties concerned to take forward these discussions towards adoption of a code of conduct in the South China Sea on the basis of consensus,'' foreign minister Salman Khurshid said at the 20th ARF meet in Brunei.

"We oppose the use or threat of use of force. We hope that all parties to disputes in the South China Sea region will abide by the 2002 Declaration on Conduct in the South China Sea and work together to ensure peaceful resolution of disputes, in accordance with international law, including 1982 UNCLOS,'' he added.

India becomes part of regional trading bloc despite Chinese opposition - The Times of India

 

[Roybot]

@kalu_miah your thoughts?

 

[StarCraft_ZT]

Very interesting....

According to the common FTA regulations, each party involved should guarantee decreasing custom duty by certain proportions during specifical period. So, India should have some very competitive products either famous or share big proportion of globle market. Then India products can rush to the world and occupy other nations' market share and thus defend your national interest by destroying other nations' companies. As far as I heard, not a single Indian product could beat other developed nation's product, India economy is even not driven by manufacturing let alone research and innovations. What I really want to say is that those Asean countries really want more “product dump ground” (产品倾销&#22320and sell their cheap and low quality products. As for Asean, your Indian product is not a big deal that would be a treat to Asean market, so they are generous and kind to let you participate in. In the long run, their product will share your India more and more market and defeat your national industry while Asean nation are relatively safe due to your low competitive product....

Acctually, China will not care about whether you are in or out of this free trade area. Why would China opposed India? You send money to China's companies, I should say thank you.

As l always said, India media should focus on self-examination toward your defective economic structure rather than play paper word tricks. China dose have many disadvantage, but our media is always leading our people to discussions about self-examination and introspection. Boasting too much will mislead your people and they are dreaming to be very strong.

This RCEP is set up to compete with Trans-Pacific Partnership Agreement（TPP）led by US.

 

[acid rain]

^^^^^

Most of them are idiots who come out from our big neighbor to the north, guess 16 hour shifts with no leave does this to them. Do they even bother to check where India ranks in manufacturing. India is always in the top 10 in most production categories.


and anyways, Thank U China for the opposition we will return the favor whereever possible.

 

[Roybot]

Very interesting....
According to the common FTA regulations, each party involved should guarantee decreasing custom duty by certain proportions during specifical period. So, India should have some very competitive products either famous or share big proportion of globle market. Then India products can rush to the world and occupy other nations' market share and thus defend your national interest by destroying other nations' companies. As far as I heard, not a single Indian product could beat other developed nation's product, India economy is even not driven by manufacturing let alone research and innovations. What I really want to say is that those Asean countries really want more “product dump ground” (产品倾销&#22320and sell their cheap and low quality products. As for Asean, your Indian product is not a big deal that would be a treat to Asean market, so they are generous and kind to let you participate in. In the long run, their product will share your India more and more market and defeat your national industry while Asean nation are relatively safe due to your low competitive product....
Acctually, China will not care about whether you are in or out of this free trade area. Why would China opposed India? You send money to China's companies, I should say thank you. As l always said, India media should focus on self-examination toward your defective economic structure rather than play paper word tricks. China dose have many disadvantage, but our domestic media is always leading our people to discussions about self-examination and introspection. Boasting too much will mislead your people and they are dreaming to be very strong.

This RCEP is set up to compete with Trans-Pacific Partnership Agreement（TPP）led by US.

Could have done a bit of research before posting all that?

Firstly the agreement involves other countries such as Australia, Japan, South Korea, New Zealand + ASEAN.

Secondly India's export to ASEAN and the other countries have been increasing over the years.

Thirdly, FTA is beneficial for imports as well, not just exports. No duty would mean cheaper imports, cheaper imports of commodities will help in bringing the prices and inflation down.

 

[Okemos]

An economic partnership organization mired in political disputes and members support each other in opposition to China? I doubt this so called free trade organization will go anywhere. You never want to mix economic cooperation with political bickering. Very very bad move.

 

[StarCraft_ZT]

Could have done a bit of research before posting all that?

Firstly the agreement involves other countries such as Australia, Japan, South Korea, New Zealand + ASEAN.

Secondly India's export to ASEAN and the other countries have been increasing over the years.

Thirdly, FTA is beneficial for imports as well, not just exports. No duty would mean cheaper imports, cheaper imports of commodities will help in bringing the prices and inflation down.

Firstly, I know that. So, situation is more worse for you, you are facing Australia, Japan, South Korea, once your domestic market is lost, you will always be the worker, not the boss who decide what to produce.

Secondly, it may be a good sign. But you should do deeper analysis to see whether your export product are high level or low quality.

Thirdly, I won't explain it any more.

India's manufacturing situation is much better than I thought.

 

[Okemos]

Asean countries, many of which have had territorial spats with Beijing in the South China Sea, look upon India as an important partner, not least Malaysia which is fast emerging as a crucial economic partner for India.

Source: http://www.defence.pk/forums/world-...despite-chinese-opposition.html#ixzz2YQXthCP7

As far as I know, only Vietnam and Phillippines have serious dispute with China in SC see. When is 2 considered many? Very sloppy journalist writing.

 

[sree45]

hahahahhaa.....

 

[navtrek]

Firstly, I know that. So, situation is more worse for you, you are facing Australia, Japan, South Korea, once your domestic market is lost, you will always be the worker, not the boss who decide what to produce.

Secondly, it may be a good sign. But you should do deeper analysis to see whether your export product are high level or low quality.

Thirdly, I won't explain it any more.

India's manufacturing situation is much better than I thought.

Yes but our political system is not that favorable as yours that is why we lag behind. I like the Chinese political system and how the leaders are selected and how they make their way to the top right from the grass roots.

That system will certainly keep China on the top.

 

[sree45]

Firstly, I know that. So, situation is more worse for you, you are facing Australia, Japan, South Korea, once your domestic market is lost, you will always be the worker, not the boss who decide what to produce.

Secondly, it may be a good sign. But you should do deeper analysis to see whether your export product are high level or low quality.

Thirdly, I won't explain it any more.

India's manufacturing situation is much better than I thought.

Thanks for the info. I dint expect we are rated such high. Good news for us.

 

[StarCraft_ZT]

Yes but our political system is not that favorable as yours that is why we lag behind. I like the Chinese political system and how the leaders are selected and how they make their way to the top right from the grass roots.

That system will certainly keep China on the top.

Democracy! Congratulations, the best sysem of the world, what else do you want? We are all defeated by your starving child democracy system! We admit that your system could solve the problem such as hunger, illness without doing anything but boasting boasting~~~forever

 

[Okemos]

Yes but our political system is not that favorable as yours that is why we lag behind. I like the Chinese political system and how the leaders are selected and how they make their way to the top right from the grass roots.

That system will certainly keep China on the top.

I feel the dire weakness of Chinese system is that good policies from central government will not be implemented in local levels due to lack of check and balance at local level. The central government has good enough check and balance that will take into account various interest groups, but powers at local governments are too concentrated.

China's current system, in essence, is very similar to the cabinet system during Ming dynasty, and also with very similar problems.

 

[navtrek]

Democracy! Congratulations, the best sysem of the world, what else do you want? We are all defeated by your starving child democracy system!

Ha ha every system has its drawbacks even the Chinese one. Indian democracy is slow but its steady as of the starving children you are talking about things will change however it will not happen overnight it will take time.

The seeds of development have been sown like.

The Government is implementing several schemes/programmes of different Ministries/Departments through State Governments/UT Administrations.

The schemes/programmes include:

1. Integrated Child Development Services (ICDS),
2. National Rural Health Mission (NRHM),
3. Mid-Day Meal Scheme(MDM),
4. Rajiv Gandhi Schemes for Empowerment of Adolescent Girls (RGSEAG) namely SABLA,
5. Indira Gandhi Matritva Sahyog Yojna (IGMSY) as direct targeted interventions.

Besides, indirect Multi-sectoral interventions include:

1. Targeted Public Distribution System (TPDS),
2. National Horticulture Mission,
3. National Food Security Mission,
4. Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS),
5. Nirmal Bharat Abhiyan,
6. National Rural Drinking Water Programme etc.

Several of the schemes namely, ICDS, NRHM, MDM, SGSY have been expanded post 2005-06.

All these schemes have potential to address one or other aspect of Nutrition.
Nutrition has been receiving attention at the highest levels.

Recent decisions of Government inter alia, include:

1. Strengthening and restructuring of the ICDS with special focus on pregnant and
lactating mothers and children under three.

2. A multi-sectoral programme to address the maternal and child malnutrition in selected
200 high-burden districts.
3. A nationwide information, education and communication campaign
4. Bringing in strong nutrition focus in Ministries dealing with Health, Drinking Water Supply
and Sanitation, School Education, Agriculture and Food & Public Distribution.
5. Programmes such as the ICDS and Midday meal shall use iron fortified iodized salt
(Double fortified salt).

The proposed National Food Security Bill, introduced in the Lok Sabha will also contribute towards food security. (Passed and enacted in to law)

Government has also announced a pilot programme on Nutri-Farms for introducing new crop varieties that are rich in micro-nutrients such as iron-rich bajra, protein-rich maize and zinc-rich wheat.

The food security bill worth 22bn $ will provide rice (1kg) at a cost of 1Rs i.e. (0.017$) to the poor.

 

[sree45]

Democracy! Congratulations, the best sysem of the world, what else do you want? We are all defeated by your starving child democracy system!

Is this required? Every system has its disadvantages and advantages. As far as starving child is concerned, read about the proposed Food Security Bill. The problem is we are spending money on feeding them but we are not spending enough on teaching them how to feed for themselves.