India, ASEAN striving to expand trade despite India’s exit from RCEP
India and ASEAN countries said they will explore ways to increase trade despite India’s exit from the Regional Comprehensive Economic Partnership (RCEP) agreement.
New Delhi (VNA) – India and ASEAN countries said they will exploreways to increase trade despite India’s exit from the Regional ComprehensiveEconomic Partnership (RCEP) agreement.
“As far as India is concerned, we did not join RCEP as itdoes not address the outstanding issues and concerns of India. However, weremain committed to deepening our trade relations with ASEAN,” said Secretaryof the Indian Ministry of External Affairs in charge of the East Riva GangulyDas, briefing journalists about the 17th ASEAN-India Summit that Prime MinisterNarendra Modi said on November 12.
The free trade agreement, which India walked out from a yearago, is expected to be signed on November 15 between the 10 ASEAN members andChina, Australia, the Republic of Korea, Australia and New Zealand.
In November 2019, PM Modi told the RCEP summit that Indiawas walking out of the deal after negotiations for more than six years.
ASEAN is India’s fourth largest trading partner with two-waytrade of 86.9 billion USD./.
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Illustrative image (Source: Nikkei) 
