Mixed messages on trade pact at Asean
BANGKOK: Asian countries held conclusive talks on what could be the world’s biggest trade pact and an announcement of success from the Association of Southeast Asian Nations summit in Bangkok was expected last night, the Thai hosts said yesterday.
However, questions still hung over India’s participation in the Chinabacked 16nation Regional Comprehensive Economic Partnership (RCEP), which has been given new impetus by the USChina trade war.
Southeast Asian countries had hoped on Sunday to announce at least provisional agreement on the 16nation trade bloc that would account for a third of global gross domestic product and nearly half the world’s population, but lastminute demands by India meant negotiations went late into Sunday night. The bloc includes the 10 Asean members plus China, South Korea, Japan, India, Australia and New Zealand.
‘‘The negotiation last night was conclusive,’’ Commerce Minister Jurin Laksanawisit said yesterday.
‘‘There will be an announcement together on the success of the RCEP agreement by the leaders later today. India is part of this as well and will jointly make the announcement. The signing will be next year.’’
But an Indian official with close knowledge of the talks said not everything had been resolved and discussions were ongoing, adding that it was ‘‘all being decided politically’’.
China’s foreign ministry referred in a statement to ‘‘RCEP15 member states’’ concluding most negotiations, implying only 15 countries had agreed. Australia’s trade minister, Simon Birmingham, also cast doubt on whether India was on board. — Reuters