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India undecided on China after RCEP

In view of the Regional Comprehensive Economic Partnership (RCEP), India is looking at different arrangements to give the minimum tariff cuts to Chinese goods and delay the concessions by as many years as possible.

India has considered duty cuts on Chinese goods over a maximum 25 year period. Industries like steel, copper, textiles, aluminium, engineering, pharmaceuticals, leather and food have expressed fears about Chinese dumping. While the textile industry has sought protection of cheap manmade fiber imports from other RCEP members, the auto industry wants 28 sensitive automotive tariff lines to stay on the negative list for all member countries. The aluminium industry wants aluminum and its articles in the negative list or the exceptions to products they want to open up for imports under RCEP and the copper association has sought zero duty on copper ore and concentrate to prevent an inverted duty structure.

RCEP is a regional trade agreement spanning the ten Asean countries and the group’s six free-trade agreement partners — Australia, New Zealand, Japan, China, South Korea and India. Though talks on seven of the sixteen chapters of the agreement are complete, the key areas of goods, services and investment are still being negotiated. India wants to know the number of years various industries need to give zero duties to imports from RCEP countries especially China.

 
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