When proposed in 2012, RCEP was to bind together all the existing trade agreements between the 10 asean nations (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam) and the region’s other big economies, including China, Japan, South Korea, Australia, New Zealand and India, and harmonise trade rules across the member countries. “The present form of RCEP agreement does not fully reflect the basic spirit and the agreed guiding principles of RCEP,” said Modi. The concerns have been there even before the summit began on November 2. On October 31, Vijay Thakur Singh, secretary, Ministry of External Affairs, told the media that some “critical” issues were yet to be resolved, fuelling speculation that India might buy more time before entering into the partnership. But India’s last-minute change instance was as much a surprise to all as a shock to the negotiating nations.
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