The Regional Comprehensive Economic Partnership (RCEP) is a proposed Free Trade Agreement (FTA) between the 10 member-states of ASEAN and FTA partners
New Delhi: Union Minister of Railways and Commerce and Industry Piyush Goyal will make a statement in Rajya Sabha on Tuesday (December 10) regarding India's position on Regional Comprehensive Economic Partnership (RCEP).
Earlier, External Affairs Minister S Jaishankar and Goyal, reportedly, gave a detailed presentation on Prime Minister Narendra Modi's recent foreign visits and India's stand on the RCEP, in the BJP parliamentary party meeting.
This presentation assumed significance as India decided not to join the RCEP agreement as its key concerns were not addressed.
The key issues behind India's decision included inadequate protection against import surge, insufficient differential with China, possible circumvention of rules of origin, keeping the base year as 2014 and no credible assurances on market access and non-tariff barriers.
On November, Union home minister Amit Shah had penned his views on India's decision to stay away from the Regional Comprehensive Economic Partnership (RCEP), saying that the move is bold and historic.
"The decision cements India's growing stature as a country that is rock solid in its resolve to not only protect its own interests but also to boldly ward off any attempts to being arm-twisted. Under Prime Minister Narendra Modi's leadership, New India reflects a new self-confidence," Amit Shah had stated.
Goyal had earlier said that the country would be open to further discussions on RCEP if its demands are met, and the trade deficit is balanced.
Last Updated Dec 10, 2019, 9:46 AM IST