Traditional dress is mandatory for Saudi civil servants    Minister Al Ibrahim calls for enhanced global cooperation at WEF meeting in Riyadh    Saudi Finance Minister stresses importance of Vision 2030 at WEF Special Meeting in Riyadh    Saudi Arabia, EU strengthen energy collaboration with upcoming MoU    NEOM secures SR10 billion revolving credit facility to support development initiatives    HONOR opens two HONOR exclusive service centers in Saudi Arabia to bring better customer experience    Saudi Arabia to host World Investment Conference amidst economic expansion    Saudi minister announces 10% increase in tourist numbers in Q1 2024    UK forces may be deployed on the ground in Gaza to help deliver aid    Trump VP contender Kristi Noem defends killing her dog    Conservative MP and ex-minister Daniel Poulter defects to Labour    Saudi Drug enforcement contributes to thwarting 47 kilograms of cocaine smuggling in Spain    Al Hilal triumphs over Al Fateh in a fierce 3-1 clash at Kingdom Arena    Al Shabab overpowers Al Ittihad with a 3-1 victory in Jeddah    Saudi Olympic team exits U-23 Cup in quarterfinals, loses Paris 2024 Olympics dream    'Zarqa Al Yamama': Riyadh premieres first Saudi opera    Riyadh Season announces first overseas event with boxing gala in Los Angeles    Australian police launch manhunt for Home and Away star Orpheus Pledger    Spice Girls reunite at Posh's 50th birthday    Aspiring fencer Josh Brayden aims for Olympic glory    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Doubts over trade pact at SE Asian summit due to India's new demands
Published in The Saudi Gazette on 03 - 11 - 2019

Southeast Asian leaders, worried by the U.S.-China trade war, pushed for a deal on what could be the world's largest trade bloc on Sunday as officials worked behind the scenes to try to salvage progress following new demands from India.
Hopes of finalizing the Asia-wide Regional Comprehensive Economic Partnership (RCEP), which is backed by China, have been thrown into doubt at the summit of the Association of Southeast Asian Nations (ASEAN) in Bangkok, Thailand.
Indian Prime Minister Narendra Modi did not even mention the RCEP deal in opening remarks at a meeting with Southeast Asian leaders and instead spoke only of reviewing the existing trade agreement between ASEAN and India.
"This will help not only further strengthen our economic relations, but our trade will also be more balanced," Modi said.
The 16 countries in RCEP would account for a third of global gross domestic product and nearly half the world's population.
But India is worried about a potential flood of Chinese imports. A person with knowledge of New Delhi's negotiations said new demands were made last week "which are difficult to meet."
Southeast Asian countries had hoped at least a provisional agreement could be announced on Monday.
"We should continue to work to conclude negotiations on the RCEP within this year to stimulate economic growth, as well as trade and investment," Thai Prime Minister Prayuth Chan-ocha told the formal opening of the ASEAN summit on Sunday.
He highlighted the risks of "trade frictions" and "geo strategic competition" in a region where the trade tensions between the United States and China have helped drive growth to its slowest in five years in 2019.
Some countries have raised the possibility of moving ahead without India on forming a bloc that also included Japan, South Korea, Australia and New Zealand.
But Thai commerce minister Jurin Laksanawisit told Reuters on Sunday that India had not pulled out and all was good on RCEP negotiations.
Another advantage for Southeast Asian countries of having India in the trade pact is that it would be less dominated by China.
The U.S. decision to send a lower level delegation to the summits this year has raised regional concerns that it can no longer be relied on as a counterweight to China's increasing regional might.
Instead of President Donald Trump or Vice President Mike Pence, the United States will be represented by Commerce Secretary Wilbur Ross and White House national security adviser Robert O'Brien.
China's premier, Li Keqiang, met ASEAN leaders on Sunday and said China was ready to work with countries in the region for long term peace and stability in the South China Sea, where neighbous reject Beijing's sweeping maritime claims.
Li cited this year's progress on a code of conduct, due for completion within three years. A legally binding code has long been a goal for ASEAN members sparring over what they see as China's disregard of sovereign rights and its obstruction of their energy exploration and fishing. -Reuters


Clic here to read the story from its source.