RCEP: Piyush Goyal meets Australian Trade Minister Simon in Bangkok

Union Minister of Commerce and Industry Piyush Goyal met Australian Trade Minister Simon Birmingham. Both ministers discussed a series of issues related to trade. Apart from this, ways to prevent market-distorting trade practices were also discussed. The meeting took place in Bangkok on Friday, October 11, on the sidelines of the ninth Regional Comprehensive Economic Partnership (RCEP) Intersessional Ministerial meeting in Bangkok from October 11 to 12.

Piyush Goyal meets Simon Birmingham

"Our discussions centred around preventing market-distorting trade practices and bringing a trade balance between RCEP countries," Goyal tweeted.

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In addition, Goyal will also hold other bilateral meetings with counterparts from Japan, Singapore, Malaysia, China and New Zealand during his time at Bangkok ministerial meet.

The RCEP meeting was the last ministerial meeting before the scheduled third Leaders Summit slated to be held on November 4 in Bangkok. Prime Minister of India Narendra Modi will be joining the summit. The RCEP is trade agreement in cooperation with other partners which include People's Republic of China (ACFTA), Republic of Korea (AKFTA), Japan (AJCEP), India (AIFTA) and Australia and New Zealand (AANZFTA). The negotiations commenced after they were launched by leaders of the ten ASEAN member countries, namely Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam and additional six ASEAN FTA partners (Australia, People's Republic of China, India, Japan, Republic of Korea and New Zealand).

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Bangkok ministerial meet and third Leaders Summit

The upcoming Bangkok ministerial meet will be a base of ministerial guidance where issues will be addressed. Other things on the agenda include discussions of preparations for the third Leaders Summit. The Union Minister also held several consultations with the Indian industry for cementing India's position and for taking into consideration the industry's range of concerns and sensitivities.

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(With ANI Inputs)