NEW DELHI HAS TO GO FOR FRESH FREE TRADE AGREEMENTS
Ashok B Sharma
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2019-11-06 10:19
India has refused to be a part of the mega trading bloc Regional Comprehensive Economic Partnership (RCEP) in its neighbourhood in its present form as its demand were not met. Well that does not mean it has to forgo its Act East policy. Joining a trade bloc is only one of the ways of fostering regional integration. India still remains engaged with ASEAN and its other institutions like ARF, ADDM+ believing in the centrality of the bloc. It is also engaged in other regional and sub-regional groups like East Asia Summit, IORA, IONS, BIMSTEC, Mekong-Ganga Cooperation etc. India has bilateral relations with all countries in the region even up to the remote Pacific Islands. Mutual development, economic cooperation, connectivity and people-to-people contact have been the cornerstone of India’s policy and hence not being part of RCEP does not make the Act East Policy irrelevant in any way.