Door will remain 'wide open' for India to join RCEP: Australian PM

Australian Prime Minister Scott Morrison on Monday said door will remain "wide open" for India to join 16-nation Regional Comprehensive Ecomic Partnership (RCEP) if it decides to do so, as ors were on board in finalising deal without New Delhi. Morrison and Tre Minister Simon Birmingham are in Bangkok to discuss RCEP during ASEAN summit. 

'Bigger and better with India'

possible delay in firming up RCEP during three-day summit in Thai capital has been attributed to India's "new demands" on market access, and tariff-related issues. India has been forcefully raising issue of market access as well as protected lists of goods mainly to shield its domestic market as re have been fears that country may be flooded with cheap Chinese agricultural and industrial products once it signs deal. " door will always be open to India," Morrison was quoted as saying by Australian Associated Press (AAP).  He also said that deal would be bigger and better with India in it.  "It has always been our view, and view of many who sit around table, that this is a bigger and better deal with India in it," Morrison said. "I think patience is virtue in this," he ded. 

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Deal to be finalised next year

When finalised, RCEP would become world's largest free tre area, comprising half of world population and will account for nearly 40 per cent of global commerce and 35 per cent of GDP. RCEP includes 10 ASEAN states -- Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar and Cambodia -- along with China, India, Japan, South Korea, Australia and New Zealand. report said 15 member nations were closer to declare ir pact without India and few details will be resolved early next year. deal will n be finalised later next year in Vietnam.

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Simon Birmingham's comment

Tre minister Birmingham said, "We have to make sure that progress is realised amongst 15 nations who are re without India. se make it easier for Australian businesses to do business through region and that is what allows us to keep growing our exports."  He said new, multilateral deal will deliver better results. "re are real gains that Australia can get in terms of our services ecomy, financial services, areas of education, health sectors. We are very focused on how we can value-d to those existing agreement," Birmingham said.

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