Over 100 stakeholder consultations on proposed RCEP in last 6 years: Commerce ministry

The commerce ministry on Saturday said over 100 stakeholder consultations have been held on the mega free trade agreement RCEP in the last 6 years.


The Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement being negotiated by 16 countries.


The members include ten member states of the Association of Southeast Asian Nations (ASEAN) - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam - and China, Japan, India, South Korea, Australia and New Zealand.


More than 100 stakeholders' consultations have been held by the Department of Commerce and other lead ministries and departments seeking industry inputs for formulating India's interests, covering a wide spectrum of the economy including agri, chemicals, petrochemicals, pharma, plastics, textiles, metals, auto and machinery, it said in a statement.


The Department of Commerce also received industry feedback in the area of rules of origin, Sanitary and Phytosanitary (SPS) and Technical Barriers to Trade (TBT), anti-dumping, countervailing duties, safeguards measures and Intellectual Property Rights as well, it said.