Wednesday, 10 August, 2022
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We’re trying to find a way to get India into RCEP free trade bloc, New Zealand says

RCEP free trade bloc of 15 countries will play a key role as the Covid-19 pandemic disrupts global trade, New Zealand says.

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Wellington: New Zealand and its partners in a proposed Asia trade bloc continue to seek ways to bring India into the group, arguing that it will have a key role as the Covid-19 pandemic disrupts global trade.

The bloc comprising 15 nations — Asean countries, Japan, Australia, New Zealand, South Korea and China — has been negotiating for several years to form the Regional Comprehensive Economic Partnership, or RCEP, but in November India opted out of the talks. Last month the group wrote a letter seeking India’s return and expressed a willingness to discuss some of its demands.

“What we are trying to do along with other RCEP colleagues is to try to find a way for there to be an on-ramp that allows India an accelerated way back into the agreement,” Vangelis Vitalis, deputy secretary at the Ministry of Foreign Affairs and Trade, told a parliamentary select committee Thursday in Wellington. “It would be even more important for India to be part of the agreement in the post-Covid space as we see some of the challenges starting to emerge around the region.”

The bloc, which makes up 30% of global trade and 58% of New Zealand exports, hopes to sign the RCEP agreement by the end of the year, he said.

“The message from India has not been very encouraging but from a New Zealand perspective we would like to find a way for India to be a participant,” he said. –Bloomberg 


Also read: Trump explained his plan to expand G7 to add Russia, India and others, to Putin


 

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1 COMMENT

  1. USA the sole super power now, and China is vying to join as co- Super power as China purchase parity GDP already crossed that of USA in 2017 and in Nominal terms will cross by or before 2030. China is ready for accommodation.
    So far 129 or more countries have signed with China agreements for BRI PROJECTS!
    China does not seek to impose it’s political or ideological system on any country. It does not speak about political and administrative protocols in the name of democracy about any other country. In the last few hundred years China has not sent troops to any country, or invaded or bombed any country like USA. China has no colonies in a thousand years and allowed countries very small around it to live in peace.
    We must take advantage of the tussle between USA and China and bargain for advantages from both. Instead our officials are always misleading political leaders and forcing them to take the side of USA, japan and Australia and against China.
    That is suicidal for India.
    RCEP have accepted all terms insisted by India. Just before signing, USA has used its agents in Indian officialdom and RSS WING SWADESHI JAGRAN MANCH to sabotage this.
    As a last chance RECP IS STILL COMING FORWARD TO MEET NEW SUDDEN DEMANDS MADE BY INDIA.
    This is a golden chance, a make or break chance. If we join, we are joining with maximum ever possible deal.
    If we fail, we are pulling down India.
    By joining Modi can wash many of his other sins.
    But not joking he can add a big heap to his innumerable sins. Political sins, economic sins and social sins.
    The choice is his. And of rss.

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