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RCEP members worry over market access to China

RCEP members worry over market access to China
02 November 2016 Current Affairs: The 15 Asia-Pacific nations including India of the Regional Comprehensive Economic Partnership (RCEP) are concern to give greater market access to Chinese goods without gaining in return. All these countries in the RCEP grouping are also worried about agreeing to eliminate tariffs altogether, a move that will mainly help China. 

These 15 Asia-Pacific nations including India fear that China may dump its excess capacity in several items including steel, as well as highly subsidised items which may harm local industry of importing countries and distort trade.

Regional Comprehensive Economic Partnership : RCEP is the proposed mega-regional Free Trade Agreement (FTA) between 16 Asia-Pacific countries. It includes India, China, Japan, South Korea, Australia, New Zealand and the 10-member ASEAN bloc. 

The RCEP negotiation process had started in 2013 and is unlikely to be concluded by the end of 2016. The proposed FTA aims to open up trade in goods and services as well as liberalise investment policies. It will cover a market of over 3 billion people in these 16 countries — whose total combined GDP is more than $17 trillion and collectively account for 40% of world trade.

 


January 2017 Current affairs
18 JAN
NEWS
17 JAN
NEWS
16 JAN
NEWS
13 JAN
NEWS
12 JAN
NEWS
11 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
NEWS
26 DEC
NEWS




November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
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25 NOV
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24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
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26 OCT
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25 OCT
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24 OCT
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22 OCT
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September 2016 Current affairs
30 SEP
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29 SEP
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28 SEP
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27 SEP
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26 SEP
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24 SEP
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