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RCEP offers immense possibilities for India-Asean trade, says Sushma Swaraj

Swaraj said that Asean-India FTA has given a major boost to trade in goods and services

Press Trust of India  |  New Delhi 

Sushma Sawraj , ASEAN, Delhi Dialogue, India-ASEAN trade
External Affairs Minister Sushma Sawraj along with ASEAN ministers/Heads of Delegation pose for a Family photo during the "Delhi Dialogue" in New Delhi.

India today said the proposed Regional Comprehensive Economic Partnership (RCEP) with countries will offer immense possibilities, accounting for about 40% of world trade. External Affairs Minister said the next round of meeting will be held in Hyderabad later this month. The is a proposed free trade agreement (FTA) between the 10-member states of the Association of Southeast Asian Nations (ASEAN) (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam) and the six states with which has existing free trade agreements (Australia, China, India, Japan, South Korea and New Zealand). She said the ASEAN-India has given a major boost to trade in goods and services and its review meeting in Cebu in the Philippines next week will explore means to further enhance our trade and investments flows. "We are also actively engaged in negotiations on the regional comprehensive economic partnership.

We look forward to a positive outcome of the next round of negotiations that will commence in Hyderabad later this month. "When finalised, offers immense possibilities as the largest regional trading arrangement, accounting for about 40% of world trade," Swaraj said at Delhi Dialogue, an annual forum aimed at enhancing India's interaction with the countries. Speaking on occasion, Myanmar's Minister in the Ministry of the Office of the State Counsellor, U Kyaw Tint Swe said that the will significantly enhance the trade volumes between the member countries.

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First Published: Wed, July 05 2017. 04:51 IST