The Regional Comprehensive Economic Partnership (RCEP) deal is expected to be signed at the end of this year, ASEAN (the Association of Southeast Asian Nations) Secretary-General Dato Lim Jock Hoi said on the sideline of the 26th Meeting of ASEAN Economic Ministers Retreat held in Vietnam’s central city of Da Nang Wednesday.

ASEAN countries have agreed to try and persuade India to return to the negotiating table for the 16-nation Regional Comprehensive Economic Partnership (RCEP) trade deal.

Australia is willing to consider a bilateral free trade agreement with India on the lines of the proposed Regional Comprehensive Economic Partnership (RCEP) agreement, that New Delhi chose to exit in November last year, that would capture the work already done between the two countries while the negotiations were on, the country’s Trade and Tourism Minister Simon Birmingham has said.

India’s apprehensions on getting a raw deal if it joins RCEP have not yet been addressed.

Regional Comprehensive Economic Partnership (RCEP) negotiations first took place in Cambodia in November 2012, while the first round of negotiations in Brunei were held in May 2013 while the first RCEP Summit was held in the Philippines in November 2017.

Snub is a further sign New Delhi may pull out of trade deal negotiations

South Korea will attend a high-level meeting on a mega Asia-Pacific trade pact this week as part of its efforts to expand its trade network around the globe.

India’s sudden withdrawal from the Regional Comprehensive Economic Partnership talks has hit negotiations involving the other 15 countries of the treaty, which is expected to be finalized by the end of this year.

Sections of Indian industry, farmers and dairy sector have expressed concerns over the mega trade deal

The partnership could take away the protective cover for many sectors but staying away cannot be an option in a borderless world