NONTHABURI, Thailand — A 16-nation trade initiative backed by China is pushing ahead as India stands aside.
Leaders of countries involved in the Regional Comprehensive Economic Partnership said Monday that they had resolved differences but India was not in agreement. Seven years after talks began, the signing of a final deal was pushed back to next year.
India has balked at exposing its farmers and factories to more foreign competition, especially from China.
A statement issued after leaders met said, “India has significant outstanding issues, which remain unresolved.”
It said talks would continue to try to mend those differences. India’s final decision “will depend on satisfactory resolution of these issues.”
RCEP includes the 10 members of the Association of Southeast Asian Nations, China, Japan, South Korea, Australia, New Zealand and, maybe, India.
The Associated Press
