ISAS Briefs

The skepticism and lethargy characterising the Regional Comprehensive Economic Partnership (RCEP) negotiations appear to be making way for cautious optimism. Frequent ministerial and bilateral consultations reflect a new sense of urgency. Indian Prime Minister Narendra Modi’s mention of the need for an early conclusion of the deal during his recent visit to Southeast Asia has also raised hopes of India being more proactive in the RCEP talks. However, much work needs to be done before negotiations can conclude. This paper looks at the problems affecting the RCEP and reasons behind India’s reservations with the deal. While the RCEP can conclude only through a political understanding among its members, a formalised RCEP can bring good tidings for global trade.