Industry And Cluster | News & Insights

RCEP nations committed to resolving issues with India: PRC.

Published: November 8, 2019
Author: TEXTILE VALUE CHAIN

The member nations of the Regional Comprehensive Economic Partnership (RCEP) are ready to jointly work to address New Delhi’s concerns, China said yesterday after India decided not to join the mega trade deal. Chinese vice commerce minister and top trade negotiator Wang Shouwen also expressed confidence that the differences would be resolved by the end of this year.Wang said China and the other member states respected India’s outstanding concerns.

“We must, together with India, work hard to solve these problems. India must decide on the basis of this resolution whether to enter into the agreement,” Wang was quoted as saying by a top Hong Kong-based newspaper.

Fifteen nations from the Asia-Pacific region–the 10 members of the Association of Southeast Asian Nations (ASEAN) plus Japan, China, South Korea, Australia and New Zealand–agreed on the outline of the trade pact early this week.

The current member states would settle the ‘very few remaining questions’ around market access before the end of the year, he added. The Chinese foreign ministry a day before had said Beijing will follow the principle of ‘mutual understanding and accommodation’ to resolve the outstanding issues raised by India.

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