 "Lessons from RCEP negotiations")
Prime Minister Narendra Modi announced India’s decision to opt out of the Regional Comprehensive Economic Partnership (RCEP) negotiations recently, adding the agreement would not serve the country’s interests. The RCEP agreement was being negotiated amongst ASEAN+6, that is, the 10 member countries of ASEAN plus Australia, China, India, Japan, New Zealand and South Korea since 2013. The 16 RCEP countries account for nearly 40 per cent of global GDP, almost half the world’s population and a third of the global trade in goods and services. Even without India, RCEP would be a mega-regional trade agreement, second only to the EU-US
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
