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India stepping up efforts to reach a deal centered on China this year

Related Keywords: after twelve economies signed TPP deal, alternative trade bloc, backed on export focus, China, improve access to Asian markets, India stepping efforts, Make in India, Prime Minister Narendra Modi, RCEP agreement, reach deal centered on China, World Trade Organization

Now, after 12 advanced economies accounting for 40 percent of the global economy signed a TPP deal, India's trade negotiators feel they need to get a move on. India is stepping up efforts to reach agreement with an alternative trade bloc centered on China and hopes to reach a deal this year.

New Delhi has long been seen by many countries as an intransigent player at the World Trade Organization (WTO), a multilateral forum that has struggled to find the consensus it needs to move forward.

Vietnamese made textile product may lose tariff advantage with RCEP coming in force

Related Keywords: Asean, competitive advantage, European Trade Policy and Investment Support Project, export-import duties, Japanese market, preferential tariff, RCEP agreement, trade barriers, Vietnames made textile product

Vietnamese-made textile products at present enjoy a preferential tariff in Japan due to ASEAN+1 (ASEAN plus Japan) and the Vietnam-Japan Economic Partnership Agreement as similar items from China are subject to 15-20% tariffs.

Preferential tariffs may no longer be a competitive advantage for Vietnamese goods over those from China in the Japanese and South Korean markets after the Regional Comprehensive Economic Partnership (RCEP) agreement is signed.

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