NONTHABURI, Thailand — Several Asia Pacific countries are prepared to thresh out the “outstanding issues” raised by India about the proposed free trade agreement in a “mutually satisfactory way.”Sixteen leaders of the Regional Comprehensive Economic Partnership convened in a summit in Thailand to tackle the status of the China-backed trade proposal but the concerns of India have not yet been addressed.
For now, only 15 RCEP nations have concluded the text based negotiations for the 20 chapters and essentially all their market access issues. The document will undergo “legal scrubbing” in preparation for the signing in 2020, according to the leaders. The proposed free trade agreement aims “to further expand and deepen regional value chains for the benefits of our businesses, including small and medium enterprises, as well as our workers, producers, and consumers.”
Trade Secretary Ramon Lopez said 15 RCEP participating nations have until next year to settle the issues raised by India.