The Centre does not appear to be comfortable with the general drift of negotiations in the 16-member Regional Comprehensive Economic Partnership (RCEP).
The 23rd round of the 16-nation Regional Comprehensive Economic Partnership talks over 10 days in Bangkok managed to resolve two more chapters, one on customs procedures and trade facilitation and one on government procurement.
Labor unions and workers’ rights advocates fear that the secretive RCEP agreement will further erode workers’ rights in the Asian region, while strengthening the hands of investors who may be able to sue governments for changing laws such as setting minimum wages, that would erode their profitability.
The escalating trade war between the US and China has prompted the Association of Southeast Asian Nations to call for accelerated negotiations on the Regional Comprehensive Economic Partnership, a free trade framework involving ASEAN and six partner countries.