SME Times is powered by   
Search News
Just in:   • Markets open on a positive note Wednesday morning  • Nelco brings in-flight communication to India  • Taxing retirement income of employees a retrograde step  • 'Listed realty firms log steady sales growth in Q3FY20'  • Facebook invests in Indian education start-up Unacademy 
Last updated: 24 Aug, 2019  

ASEAN.9.Thmb.jpg 100 plus consultations held on RCEP in 6 years

Asean.9.2.jpg
   Top Stories
» Exports from SEZ achieve $100 bn mark in 2019-20
» Centre may withdraw SEIS scheme for service exporters
» 'Women entrepreneurship can create 150-170 mn jobs in India'
» Sitharaman allays industry concerns on price rise
» Use of waterways can make Indian exports competitive: Gadkari
SME Times News Bureau | 24 Aug, 2019
The central government has held over 100 consultations with stakeholders on the proposed Regional Comprehensive Economic Partnership (RCEP), in the last six years.

According to the Ministry of Commerce & Industry, consultations were held to seek industry inputs for formulating India's interests in a wide spectrum of the economy, including agriculture, chemicals, petrochemicals, pharmaceuticals, plastics, textiles, ferrous and nonferrous metals, automobiles and machinery.

The RCEP, the mega trade partnership, is a proposed free-trade agreement (FTA) between 10 member states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam) of the Association of Southeast Asian Nations (ASEAN) and its six FTA partners (China, Japan, India, South Korea, Australia and New Zealand).

The RCEP negotiations began in November 2012 in Cambodia.

Accordingly, the Commerce Department has recieved industry feedback in the areas of "rules of origin, sanitary and phytosanitary, and technical barriers to trade, anti-dumping, countervailing duties, safeguards measures and intellectual property rights (IPR)".

"The consultations, in recent times, also included interactions with stakeholders under the guidance of Minister for Commerce and Industry & Railways, Piyush Goyal," the ministry said in a statement.

"State governments are also important stakeholders in these negotiations. Recognising this, the Commerce Secretaries have held regular engagements with the Chief Secretaries and other officials of states on various aspects of RCEP to make them aware of the developments and encouraged to further interact with industry and other stakeholders," it said.

In 2017, the prospective RCEP member states accounted for 3.4 billion people with a gross domestic product (GDP at purchasing power parity) of $49.5 trillion, 39 per cent of the global GDP. The combined GDPs of India and China accounted for more than half of that.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 19 Feb, 2020
  Daily Poll
Ease of doing business improved in last one year
 Yes
 No
 Can't say
  Commented Stories
» MSME credit gets a boost (2)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter