Regional Comprehensive Economic Partnership (RCEP)

RCEP: Members worried about giving more market access to Chinese goods

  1. Event: Forthcoming ministerial meeting on the Regional Comprehensive Economic Partnership (RCEP)
  2. Issue: Concerns of the members including India, over agreeing to give greater market access to Chinese goods without gaining similarly in return
  3. Sources said the meeting is likely to see an agreement on explicitly incorporating the principle of ‘Single Undertaking’
  4. The means that each aspect of the negotiation, including on goods, services and investment, “is part of a whole and indivisible package and cannot be agreed separately”
  5. This principle is important for India
  6. Reason: There are apprehensions that negotiation on opening up services is progressing at a much slower rate than talks on liberalising goods trade

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