Chinese official says breakthrough negotiations have been made in RCEP

China's Foreign Minister said on vember 4 that for an Asia-wide tre pact which is also world's biggest tre deal breakthroughs have been me in negotiations. However, consultations with India are still ongoing. Chinese minister, Le Yucheng also said  anuncement of final deal will be me by end of day by leers who are attending Association of Souast Asian Nations (ASEAN) summit in Bangkok. Moreover, host country, Thailand h said earlier that deal would be rey to sign in 2020. 

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Outstanding issues in deal

According to Chinese official, India will be welcomed to be on board with tre deal whenever y are rey while outstanding issues in deal will be completed by 2019. planned bloc includes 10 ASEAN members along with China, South Korea, Japan, India, Australia, and New Zealand. 16-nation-tre initiative has been pushed ahe with India stepping aside and facing domestic opposition for its market requirements. Or leers of country involved in Regional Comprehensive Ecomic Partnership said that y all have resolved differences except India. 

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India isn't out of RCEP

While currently, India has chosen to step aside from RCEP, Indian Foreign Ministry spokesperson, Garima Paul said that India is t out of pact. While pact includes or ASEAN members, US has also t included in deal even though America has a $1.9 trillion tre with region. For many years. world manufacturers have been trying to strike an investment boost with Souast Asian market of 650 million people. trend has also been fast-forwarded amidst uncertainty created by tre and techlogy disputes between US and China. Initially, RCEP would have included about 3.6 billion people and encompass nearly third of world tre and global Gross Domestic Product. 

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(With input from ncies)