RCEP Members Issue Ultimatum To India

The Regional Comprehensive Economic Partnership (RCEP), a trading bloc comprising 16 Asia-Pacific countries, has issued an ultimatum to India, saying that New Delhi should cut tariffs on most products as soon as possible or leave the talks on the proposed Free Trade Agreement (FTA).

In a statement, RCEP recently said that India annoyed five of its member countries - China, Japan, Australia, South Korea and New Zealand - with its "obstructionist, defensive and half-hearted approach" to the FTA talks. They also blamed India for unnecessary "delaying" the conclusion of the talks.

The RCEP issued the statement ahead of the bloc's 12th round of talks (April 23-29) taking place in the western Australian city of Perth. RCEP, which voiced apprehensions at the last round of negotiations in February in Brunei, made clear that the ongoing Perth round of talks could be a "turning...