Will resolve outstanding issues raised by India for not joining RCEP: China November 07 , 2019

BEIJING: China said that it will follow the principle of "mutual understanding and accommodation" to resolve the outstanding issues raised by India for not joining the Beijing-backed mega Regional Comprehensive Economic Partnership (RCEP).

 

China also said it would welcome India joining the deal at an early date.Prime Minister Narendra Modi had conveyed India's decision not to join the RCEP deal at a summit meeting of the 16-nation bloc, effectively wrecking its aim to create the world's largest free trade area having half of the world's population.

 

Asked for China's comments on India not joining the RCEP deal over concern of cheap Chinese products potentially harming its domestic industry, Chinese Foreign Ministry spokesman Geng Shuang told the media here that China welcomes India joining the deal.

He said the RCEP is a regional trade agreement and mutually beneficial in nature.

 

"If it is signed and put into implementation it is conducive for the Indian goods entry into China and other participating countries. In the same vein, it will also help Chinese goods to enter the markets of India and other participating countries," he said.

"This is two-way and complementary (deal) and I should point out that China and India are both emerging major developing countries. We have a huge market of 2.7 billion people and there is a big potential in the market," he said.