Piyush Goyal to make statement in Rajya Sabha over India's position in RCEP

WION Web Team New Delhi Dec 10, 2019, 09.57 AM(IST)

Piyush Goyal. Photograph:( ANI )

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The key issues behind India`s decision included inadequate protection against import surge, insufficient differential with China, possible circumvention of rules of origin, keeping the base year as 2014 and no credible assurances on market access and non-tariff barriers.

Union Minister of Railways and Commerce and Industry Piyush Goyal will be making a statement in Rajya Sabha on Tuesday regarding `India`s position in Regional Comprehensive Economic Partnership (RCEP), reported news agency ANI.

Recently External Affairs Minister S Jaishankar and Goyal gave detailed presentations on Prime Minister Narendra Modi`s recent foreign visits and India`s stand on the RCEP in the BJP parliamentary party meeting, the report added quoting sources.

This presentation assumed significance as India decided not to join the RCEP agreement as its key concerns were not addressed.

The key issues behind India`s decision included inadequate protection against import surge, insufficient differential with China, possible circumvention of rules of origin, keeping the base year as 2014 and no credible assurances on market access and non-tariff barriers.

RCEP is a proposed free trade agreement (FTA) between the ten member-states of ASEAN and FTA partners.

Goyal had said earlier that the country will be open to further discussions on RCEP if its demands are met and the trade deficit is balanced.

(With inputs from ANI)