What Is Rcep Agreement India In Hindi

- April 15, 2021

The RCEP, which to date is the “largest” regional trade agreement, was initially negotiated between 16 countries – ASEAN members and countries with which they have free trade agreements (FTAs), namely Australia, China, Korea, Japan, New Zealand and India. It is also increasingly wise that India`s interest would be to invest heavily in the negotiation of bilateral agreements with the United States and the EU, both of which are being developed. In 2016, the Electronic Frontier Foundation described the first draft of RCEP`s intellectual property provisions as “simply the worst copyright provisions ever seen in a trade agreement.” [71] In the months following India`s withdrawal from the RCEP negotiations, several PRCs had expressed a strong desire to re-engage India. These efforts are now “official”: prior to the signing of the agreement, RCEP ministers adopted a declaration on India`s participation in the agreement that left the door open to India`s accession to the RCEP agreement as an initial signed agreement. In addition, India was invited to participate as an observer at RCEP meetings and economic cooperation activities conducted by RCEP members. Finally, RCEP members expressed their readiness to begin negotiations with India as soon as India submits a written application for membership of the agreement. The initiative to create the RCEP was taken in 2011 by the member states of the Association of Southeast Asian Nations (ASEAN). These countries adopted a resolution “to create an ASEAN-led process by establishing principles” that would allow ASEAN members to “involve ASEAN-FTA`s INTERESTED partners in the creation of a comprehensive regional economic partnership agreement.” The “guiding principles and objectives,” the de facto negotiating mandate for the RCEP, referred to “the phasing out of tariff and non-tariff barriers for the bulk of all merchandise trade” and achieving a “high level of tariff liberalization through a higher level of liberalization between RCEP countries and a high rate of elimination of tariffs and trade value.”