India has put forward reasonable proposals for RCEP deal: PM Modi

As negotiations to finalise long-overdue Regional Comprehensive Ecomic Partnership (RCEP) enter final sts, Prime Minister Narendra Modi said that India has put forward reasonable proposals in a clear manner and is engd in talks with sincerity for free tre deal.

Modi said that India is clear that a mutually beneficial RCEP, in which all sides gain reasonably, is in interests of country and of all nations involved in negotiation.

Prime Minister's comments came as negotiators from 10-nation ASEAN (Association of Souast Asian Nations) and six or countries — India, China, Japan, South Korea, Australia, and New Zealand are engd in intense negotiations to seal deal at a summit of bloc on Monday.

If finalised, RCEP deal will facilitate creation of biggest free-tre region in world as 16-nation grouping is home to 3.6 billion people, or nearly half world's population. India remains committed to a comprehensive and balanced outcome from ongoing RCEP negotiations. ir successful conclusion is in interest of everyone involved. Hence, India seeks balance across goods, services and investments, and also within each pillar, Modi said in an interview to Bangkok Post newspaper.

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Prime Minister will attend India-ASEAN summit, East Asia Summit and RCEP Summit during his stay from vember 2-4. PM Modi said that India too would like a win-win outcome from RCEP negotiations.

We believe that for this, dressing our concerns over unsustainable tre deficits is important. It needs to be recognised that opening vast Indian market must be matched by openings in some areas where our businesses can also benefit, Prime Minister ded.

Diplomats from two RCEP member countries said that re was a very high possibility of inking deal at bloc's summit on Monday if India agrees to be part of it.

We have put forward reasonable proposals in a clear manner and are engd in negotiations with sincerity. We would like to see commensurate levels of ambition on services from many of our partners, even as we are rey to dress ir sensitivities, Modi said.

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Overall, we are clear that a mutually beneficial RCEP, in which all sides gain reasonably, is in interests of India and of all partners in negotiation, he said.

RCEP negotiations were launched by ASEAN leers and six or countries during 21st ASEAN Summit in Phm Penh in Cambodia in vember 2012. objective of launching RCEP negotiations was to achieve a modern, comprehensive, high-quality, and mutually beneficial ecomic partnership agreement among ASEAN member States and its FTA partners.

On India's ties with ASEAN, Modi said that engment with bloc has been, and will remain, a critical element of New Delhi's Act East policy and strategy. Prime Minister also complimented ASEAN for its outlook on Indo-Pacific, which, he said, has significant convergence with India's Indo-Pacific vision.

Maritime security, connectivity, ecomic growth and sustainable development are priority areas both in our and Asean's approaches to build a peaceful and prosperous Indo-Pacific region. We will be gl to work with our partners in Asean to progress partnership in achieving se objectives, Modi said.

Modi also said that India attaches great importance to Bay of Bengal Initiative for Multi-Sectoral Technical and Ecomic Cooperation (BIMSTEC).

It constitutes a unique link between South Asia and Souast Asia with five members from South Asia (Banglesh, Bhutan, India, Nepal and Sri Lanka) and two from Souast Asia (Myanmar and Thailand), he ded. 

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