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Moving closer: India and China to study regional trade pacts
CHINA and India plan to conduct a joint study on the impact of regional trade agreements, a first of its kind, reports the Times of India.
The move also signals growing ties on economic issues between the two Asian giants, said an India senior official at the National Institution for Transforming India (NITI).
The study will be conducted jointly by the NITI and China's Development Research Centre (DRC). The deal to undertake the joint study was signed during the recent visit of NITI officials to China.
"When I went to China we had a very good meeting with the president of DRC and we agreed that we will jointly do a study on the impact of the mega regional trade arrangements that are being formed - how the TPP (Trans Pacific partnership) that the United States has signed with 11 other countries is going to impact us," said NITI vice chairman Arvind Panagariya.
Questions studied will be whether India and China should join those agreements or whether India and China should speed up their own efforts at something like the RCEP (Regional Comprehensive Economic Partnership).
"There are a set of questions which we would look up in this joint work," said Mr Panagariya.
In recent months, India and China have collaborated on several key issue including at the ministerial meeting of the WTO in Nairobi.
A group of 47 countries - including India, China, South Africa and host Kenya - had come together to argue that the Doha Development Round should remain firmly on WTO's agenda and had attempted to block moves by advanced countries led by the US to focus on "new issues".
The move also signals growing ties on economic issues between the two Asian giants, said an India senior official at the National Institution for Transforming India (NITI).
The study will be conducted jointly by the NITI and China's Development Research Centre (DRC). The deal to undertake the joint study was signed during the recent visit of NITI officials to China.
"When I went to China we had a very good meeting with the president of DRC and we agreed that we will jointly do a study on the impact of the mega regional trade arrangements that are being formed - how the TPP (Trans Pacific partnership) that the United States has signed with 11 other countries is going to impact us," said NITI vice chairman Arvind Panagariya.
Questions studied will be whether India and China should join those agreements or whether India and China should speed up their own efforts at something like the RCEP (Regional Comprehensive Economic Partnership).
"There are a set of questions which we would look up in this joint work," said Mr Panagariya.
In recent months, India and China have collaborated on several key issue including at the ministerial meeting of the WTO in Nairobi.
A group of 47 countries - including India, China, South Africa and host Kenya - had come together to argue that the Doha Development Round should remain firmly on WTO's agenda and had attempted to block moves by advanced countries led by the US to focus on "new issues".
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