With the Regional Comprehensive Economic Partnership (RCEP) negotiations concluding, estimate India’s associated concerns in being a part of the RCEP due to which India preferred to stay out of the trade pact. Discuss the way forward.(250 words)
Also Read text below image at the bottom:
--BRICS can be used by India to bring her back in the folds of RCEP.
--ADMM Plus = ASEAN Defence Ministers Meeting Plus = Maritime + counter terrorism + humanitarian assistance and disaster relief + peacekeeping operations + Military medicine.
--Non Tarif Barrier = remains major obstacle after FTA.
>>Ex- Japan reduced duty from 10% to zero for Indian apparels through an FTA in 2011. But India’s apparel exports to Japan have nosedived from $255 million in 2010 to $152 million in 2018
>>Japanese non-tariff barriers to trade (NTBs) such as special sourcing requirements. But NTBs are generally not negotiated in FTAs
Comments
Post a Comment