BANGKOK—President Duterte has prodded India to conclude the Regional Comprehensive Economic Partnership (RCEP) in a bid to narrow the development gap within the region.
In a statement, Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said the President made the remark at the 16th Asean-India Summit on Sunday.
This comes ahead of the third RCEP Summit scheduled today, where a “preliminary conclusion” of one of the world’s largest free trade deals is expected to be reached.
Trade Secretary Ramon Lopez said the formal conclusion of the deal is eyed by February 2020 and the signing of the landmark deal could happen during Vietnam’s hosting of the Asean Summit next year.
RCEP is negotiated by member-states of the Asean, Australia, China, India, Japan, New Zealand and South Korea.
While Lopez did not specify the non-Asean country with pending issues that have yet to be resolved, India is widely reported to be reluctant to liberalize its market.
In an exclusive interview with the Bangkok Post, Indian Prime Minister Narendra Modi said they recognize the “high ambitions of our partners on goods.”
Modi added: “We too would like a win-win outcome. We believe that for this, addressing our concerns over unsustainable trade deficits is important. It needs to be recognized that opening the vast Indian market must be matched by openings in some areas where our businesses can also benefit.”
Moreover, he said they have put forward reasonable proposals and would like to see commensurate levels of ambition on services from many of their partners even as they expressed readiness to address their sensitivities.
“Overall, we are clear that a mutually beneficial RCEP, in which all sides gain reasonably, is in the interest of India and of all partners in the negotiation,” he said.
Blue economy
Duterte, in his meeting with Modi, also took the occasion to point out that the Philippines shares India’s priorities, such as the blue economy, particularly the country’s sustainable management of coastal and marine resources.
“Having said this, PRRD [President Rodrigo Roa Duterte] raised the urgency to jointly counter marine debris generation, monitor the movement of marine litter, and evaluate systems of marine pollution,” he said.
Aside from this, the President also cited poverty alleviation and inequality reduction as shared goals of Asean and India.
After congratulating Modi for his reelection as India’s leader, Duterte also proceeded to talk about the adoption of the Asean Outlook on the Indo-Pacific as part of Asean’s recognition of the deepening engagement with India, citing the need to broaden cooperation in science, technology, innovation, educational and vocational training exchanges.