SME Times News Bureau | 13 Nov, 2018
successfully defended its interests at the recently concluded 7th RCEP
Inter-Sessional Ministerial Meeting held in Singapore, said an official
The Union Minister for Commerce &
Industry Suresh Prabhu, led the Indian delegation to the 7th RCEP
Inter-Sessional Ministerial Meeting in Singapore on 12-13 November, 2018.
Commerce Minister defended India’s interests
effectively and secured maximum flexibilities. Both in STRACAP and SPS
negotiations, India managed to obtain balanced outcomes in the application of
the Dispute Settlement Mechanism.
India showed flexibility on the
principle of ‘consensus’ in the Institutional Provisions Chapter which helped
in its successful conclusion during the meeting.
On the side
lines of the RCEP, Commerce Minister held bilateral meetings with his
counterparts from Singapore, China, Japan and New Zealand.
bilateral issues and progress in RCEP negotiations. He also had pull-aside
meetings with Trade Ministers of South Korea, Indonesia, Cambodia, Malaysia,
Australia and Philippines to discuss matters of mutual interest.
The Regional Comprehensive Economic
Partnership (RCEP) is a mega regional free trade agreement being negotiated
amongst 16 countries, comprising 10 ASEAN countries plus six ASEAN FTA partners.
So far 6 Ministerial Meetings, 7
Inter-Sessional Ministerial Meetings and 24 rounds of the Trade Negotiating
Committee at the technical level have been held.