India and the Indo-Pacific Economic Framework: hiccups galore
The IPEF remains a work-in-progress and no joint statements have so far made clear what it has achieved
The IPEF remains a work-in-progress and no joint statements have so far made clear what it has achieved
A new trade bloc covering a huge swathe of the Asia-Pacific region will play an important role in developing poorer economies and in post-pandemic stimulus, according to a report published on Monday by the UN Conference on Trade and Development (UNCTAD).
Now the members of RCEP are 10-nation bloc ASEAN (Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar and Cambodia), China, Japan, South Korea, Australia and New Zealand.
India’s global stature has risen in recent years on account of political stability, sound economic growth, large market for trade and investments, and its endeavours to enhance its military muscles.
Mr. Modi had bilateral meetings with Russian president Vladimir Putin, Brazilian president Mr. Jair Messias Bolsonaro, and Chinese president Mr. Xi Jinping.
China joined 14 countries this week in agreeing terms for RCEP, which could become the world’s biggest free trade deal if officially signed next year as planned.