Asia-Pacific ministers hold trade talks, India return in focus
The Mainichi (23/06/2020) - TOKYO (Kyodo) -- Ministers from Asia-Pacific countries negotiating a sprawling free trade agreement began a videoconference Tuesday, with the focus on whether they can come up with a way to bring India back to the talks.
ã€Related】India skips another round of RCEP trade talks
Among the countries working on the Regional Comprehensive Economic Partnership, 15 of them -- the 10 members of ASEAN along with China, Japan, South Korea, Australia and New Zealand -- agreed at a summit last November to work toward signing the deal by the end of 2020.
But India, which is reluctant to open up its market due to concern that its trade deficit with China would grow, has skipped subsequent working-level talks.
In Tuesday's talks, being held remotely due to the novel coronavirus pandemic, Japan is represented by Hiroshi Kajiyama, minister of economy, trade and industry.
Negotiations on the free trade agreement, which would lower tariffs and set rules on investment and intellectual property for an area covering a third of the global economy and half the population, began in 2013 but have failed to fulfill consecutive deadlines for the signing of a deal.
The participating countries, including the Association of Southeast Asian Nations -- Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam -- are trying to convince India to return, though some are willing to conclude a 15-country deal.
Japan, for its part, wants India in the group to counter China's growing influence.
Read more at https://mainichi.jp/english/articles/20200623/p2g/00m/0in/047000c