China PM Li Keqiang asks for early conclusions on Mega Free Trade

Before bilateral talks between China and Association of Souast Asian Nations (ASEAN), Chinese Prime Minister Li Keqiang reflected on talks of mega free-tre pact and tried to push for early conclusions. proposal comes amid confusion regarding multilateral agreement which requires approval from 10 ASEAN countries along with ir tring partners. 

Prime Minister Li Keqiang asks for early conclusion on Mega tre pact

Prime Minister Li Keqiang raised his concerns before bilateral meeting which is scheduled to be held on vember 4 between China and ASEAN apart from current annual summit. Delegates from 10 ASEAN countries along with several or nations are attending annual summit organized at Thai to furr strengn ir partnerships with regional bloc. summit comes amid tre tensions between United States and China, having a greater impact on global ecomy. 

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Mega Tre by pact to be signed by 16 nations 

During talk, Chinese Prime Minister listed out his expectations from Mega Tre free pact which will inculcate tre partnership among 16-nations. pact will bring toger half of world’s population and one-third of global GDP, which will be beneficial for development of South Asian countries. According to him, process needs to speed up and he expects pact to be signed by all nations by next year. pact includes Japan, India, New Zealand, China, Australia, South Korea, and ASEAN nations; Cambodia, Philippines, Burma, Brunei, Indonesia, Laos, Thailand,  Malaysia, Singapore, and Vietnam.

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India refuses to sign any tre agreement

On or hand, India has refused to sign any agreement in a hurry. Hence, China might exclude India from mega tre agreement. Ministry of External Affairs has questioned Commerce Ministry on China’s proposal. One of officials said that this similar proposal was earlier rejected by Japan and w China seeks it to pressurize India and ask for concessions similar to those given by or countries under  Regional Comprehensive Ecomic Partnership (RCEP).

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