RCEP trade ministers to meet on November 12-13 in Singapore

A crucial meeting of trade ministers of RCEP member countries, including India and China, will take place in Singapore on November 12-13 amid pressure being mounted on New Delhi to conclude talks for the proposed mega trade deal at the earliest, sources said.

Regional Comprehensive Economic Partnership (RCEP) is a trade pact aims to cover goods, services, investments, economic and technical cooperation, competition and intellectual property rights.

The meeting is crucial as there is pressure on India to conclude the negotiations as early as possible, despite the fact that still lot of issues are yet to be resolved, they said.

Commerce and industry Minister Suresh Prabhu will represent India in the meeting.

The trade ministers of the 16-member RCEP had urged participating countries to continue to exert all efforts towards meeting the targets set in the package of year end deliverables.

The chief negotiators had concluded the 24th round of meeting in Auckland, New Zealand, last month.

Several domestic industry sectors, including steel, food processing and metals are raising concerns over the presence of China in the group.

They have stated that lowering or eliminating duties for China will flood Indian markets with Chinese goods.

India already has a free-trade agreement with Asean (Association of South East Asian Nations), Japan, and South Korea. And it is negotiating similar ...

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