NONTHABURI - India has chosen not to join the Regional Comprehensive Economic Partnership as the other 15 countries involved in negotiations for the mega trade pact said they are ready to sign the deal next year.
Ms Vijay Thakur Singh, a senior official from the Indian Ministry of External Affairs, told reporters at a press conference in Bangkok: “India conveyed its decision at the Summit not to join the RCEP agreement. This reflects both our assessment of the current global situation as well as of the fairness and balance of the agreement. India had significant issues of core interest that remained unresolved.
Negotiations have been taking place since 2013. This multilateral free trade agreement, if signed, is expected to give a fillip to economic prospects of a region currently battered by the trade war between the United States and China. Mr Kirloskar said in a statement: “ must be considered from their long-term impact, both on our domestic market and the access it provides.
“The general perception is that the importance of India is more as a consumer of final product markets."
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