How does Asean benefit RCEP?

The RCEP will increase investment to lower-cost and less skilled countries such as Myanmar, Cambodia and Laos. The trade deal will also impact the country of Vietnam. Vietnam will benefit from its exports which include footwear, automobiles and telecommunications.

Which countries are protected by India?

Countries considered India’s closest include the Russian Federation, Israel, Afghanistan, France, Bhutan, Bangladesh, and the United States.

What country is the most protectionist?

The US Is the Most Protectionist Nation.

Why did India decide not to join RCEP?

The Indian government on November 4 announced that it has decided not to join the Regional Comprehensive Economic Cooperation (RCEP) as negotiations failed to address New Delhi’s concerns. “We took the right decision to not join RCEP in national interest.

What is the impact of RCEP on India’s trade deficit?

The impact of these decisions had resulted in India’s trade deficit with RCEP nations increasing from $7 billion in 2004 to $78 billion in 2014, they said, adding that the domestic industry was still reeling under the impact of these decisions. India made a strong case at RCEP for an outcome favourable to all countries and all sectors.

What is India’s trade deficit with China?

The industry reservations aren’t unfounded, given India’s huge trade deficit with China. China is India’s largest trading partner while we are China’s 11th largest trading partner India had a trade deficit of $104 billion with RCEP countries. More than half of this was with China at $53 billion.

Should India bargain hard in RCEP negotiations?

“I have always maintained that India should bargain hard in RCEP negotiations though with the intention to eventually join it,” he told ET. “India’s current stance is consistent with this prescription. There is room on the Indian side to give up on some of its current demands, but there is also room for India to win concessions on other demands.