India's decision on RCEP reflects its assessment of the current global situation and the impartiality of the agreement: MEA
BANGKOK: India's decision not to join the agreement (RCEP) reflects its assessment of the current global situation, as well as the fairness and balance of the agreement, the Ministry of Foreign Affairs (MEA) said on Monday, adding that the The country had issues of central interest that remained unsolved.
Informing the media shortly after the important development of the RCEP, the Secretary (East) at the MEA, Vijay Thakur Singh, said the Prime Minister Narendra Modi Speaking about the decision of India, he stressed that he was guided by the impact it would have on the life and livelihood of all Indians, especially vulnerable sectors of society.
India conveyed its decision at the summit not to join the RCEP agreement. This reflects our assessment of the current global situation, as well as the fairness and balance of the agreement, Singh said.
India had significant problems of central interest that remain unresolved, he added.
Singh said that India has participated in good faith in the RCEP discussion and has negotiated a lot with a clear vision of our interests.
In the circumstances given, we believe that not joining the agreement is the right decision for India. We would continue to persevere in strengthening our trade, investment and person-to-person relationships with this region.
To journalists' repeated questions about whether India would ever join the RCEP, Singh reiterated: India has conveyed its decision not to join the RCEP agreement.
The Prime Minister had previously said that India remains committed to a comprehensive and balanced outcome of the RCEP negotiations and seeks balance between goods, services and investments and also within each pillar.
RCEP is a proposed free trade agreement (FTA) between the ten ASEAN member states and six FTA partners