Asia trade bloc seeks ways to include India, says New Zealand official
by Bloomberg Jun 03, 2020
New Zealand and its partners in a proposed Asia trade bloc continue to seek ways to bring India into the group, arguing that it will have a key role as the Covid-19 pandemic disrupts global trade.
The bloc comprising 15 nations—Asean countries, Japan, Australia, New Zealand, South Korea and China—has been negotiating for several years to form the Regional Comprehensive Economic Partnership, or RCEP, but in November India opted out of the talks. Last month the group wrote a letter seeking India’s return and expressed a willingness to discuss some of its demands.
“What we are trying to do along with other RCEP colleagues is to try to find a way for there to be an on-ramp that allows India an accelerated way back into the agreement,” Vangelis Vitalis, deputy secretary at the Ministry of Foreign Affairs and Trade, told a parliamentary select committee Thursday in Wellington. “It would be even more important for India to be part of the agreement in the post-Covid space as we see some of the challenges starting to emerge around the region.”
The bloc, which makes up 30% of global trade and 58% of New Zealand exports, hopes to sign the RCEP agreement by the end of the year, he said.
“The message from India has not been very encouraging but from a New Zealand perspective we would like to find a way for India to be a participant,” he said.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
Similar Stories
Joint Statement of the Minerals Security Partnership Principals’ Meeting 2024
The text of the following statement was released by the Governments of the Republic of Korea and Australia, Canada, Estonia, Finland, France, Germany, India, Italy, Japan, Norway, Sweden, the United…
View Article
VW and Groundhog Day
View ArticleStrengthening supply chains: TIA celebrates passage of CTPAT Pilot Program Act
The Transportation Intermediaries Association (TIA) - the only organization exclusively representing transportation intermediaries of all disciplines doing business in domestic and international commerce –announces the successful passage of S. 794,…
View ArticleUS and Ecuador convene meeting of the Trade and Environment Committee under U.S.-Ecuador Trade and Investment Council
The Committee, chaired by Assistant United States Trade Representative for Environment and Natural Resources Kelly Milton, exchanged views and priorities regarding trade and environment policies, including addressing the climate crisis,…
View Article
Biden-Harris Administration awards almost $5 million to small businesses to bring new CHIPS Technology to the commercial market
View ArticleNew US Government regulation on imports ‘will not put e-commerce genie back in the bottle’
The Biden administration is moving to curb low-value shipments entering the US duty-free under the $800 ‘de minimis’ threshold, which it says has been abused by Chinese e-commerce platforms such…
View ArticleGet the most up-to-date trending news!
SubscribeIndustry updates and weekly newsletter direct to your inbox!
Follow us on social media:
