Keep the door open for India on RCEP trade deal: Iswaran

Minister-in-charge of Trade Relations S. Iswaran said India is going to be, not just a big market, but also an important part of the supply chains in the region.ST PHOTO: GAVIN FOO

PUBLISHED 7 Nov 2019

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Linette Lai

Political Correspondent

SINGAPORE - Keep the door open for India, even though it has rejected the Regional Comprehensive Economic Partnership (RCEP) deal for now, said Minister-in-charge of Trade Relations S. Iswaran on Thursday (Nov 7).

"Is it a disappointment? Yes. But is it something that has to be a permanent outcome? No," he said at the Asia House Global Trade Dialogue held at the Mandarin Oriental hotel.

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Posted in :- November 3, 2019

ricky l
(1) Since all the RCEP members are ready with the exception of India - why don't the rest of the RCEP members sign the RCEP deal by this year end 2019 as Phase 1 of the RCEP deal.

(2) India can continue to negotiate and only when India is ready - then India can sign as Phase 2 of the RCEP deal in Feb 2020.

(3) Why let one member delay the whole RCEP deal?
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2 seconds ago

(1) Global Supply Chain will be reconfigured with all RCEP members.

(2) This mean India will lose investment as investors will stay within RCEP.

(3) RCEP offer a big market - and will trade within RCEP members minus India - who will be less competitive vis-a-vis RCEP members - and India Economy will be less dynamic with less growth.

(4) India industries will become less progressive as it protect its market - and there is less incentive for India enterprise to innovate and become less competitive in trading with the World market - in the long run - India will become more and more backward - as the World surge ahead.

 

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When India is ready to join RCEP, then the maritime route can connect China,  East Asia, SE Asia, Australia/New Zealand via the Straits of Singapore to India - to Middle East and Europe and US and S America and Africa.

This dyanmic maritime route will mitigate the shorter arctic route and the old silk road land route that are shorter and lesser cost - which will bypass our ports.

This will also entice Russia and Central Asia from arctic maritime route to join our Singapore Straits matitime route - and our future through our ports wiil be secured.

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Then how do we get India ready to join RCEP.

Very simple - we can try this 3andhalf step process.

1. Singapore complete the upgrade FTA with India. This form a small supply chain with India and it will use our port.

2. Singapore arrange ASEAN to sign FTA with India. A medium supply chain is form and India will use ASEAN ports.

3. Ask India to prepare a few provinces who are more ready to join as partial RCEP members while ramping up other provinces.

3a. Fully join RCEP when all provinces are ready.

Then our maritime route is SECURED.