Us cold to india's trade bloc bid

1. US cold to India's
trade bloc bid?
Support For Move To Join Apec Wanes As It
Believes Delhi Could Be Intransigent

2. Contd…
The US has turned distinctly cool to In dia's overtures to joining the Asia-Pacific
regional trading arrangement, Apec. India and US in a joint statement signed in
January this year said Washington would support India's prospective membership
in Asia-Pacific Economic Cooperation (Apec). India itself re ached that point after
some internal struggle, when for years, it tried but failed to get a foot in the door.
That was seen to be a sign that India may be finally turning the corner on its ap
proach to multilateral trading arrangements. Apec is not exactly a negotiating fo
rum, its importance lies in its “aspirational“ approach which its supporters say
would help Indian regulators harmonise their standards and procedures with globa
norms. In fact, for the few in the Indian government who want to keep India in the
new international trading frame works, Apec is seen to be important. In fact, last
week, Japan also agreed to support India's bid for membership of Apec. But it was
significant that India's bid was not even discussed during the recent Apec summit in
Manila.

3. Contd…
But months after the agreement, the US trade leadership believes India
could be intransigent on trade negotiations and liberalisation. This, it
believes, could impact the protrade atmosphere of other countries in the
room. US government sources here said they wanted India to be more
explicit about its intent. Richard Fontaine of Centre for New American
Security (CNAS) summarised the problem: “US supports India for UN Security
Council but not Apec; it is supporting Papua New Guinea for TPP (Trans-
Pacific Partnership), but not India.“
Indian officials on the other hand have a very different take on the issue.
India's aim of joining Apec has been expressed at the highest levels by the
PM, and echoed by com merce minister Nirmala Sitharaman when she
visited the US for the trade policy forum meetings in October. While Apec
membership by itself may not be very important, it's a crucial stepping stone
to joining the new game on the block -TPP.

4. Contd…
Fred Bergsten of Peterson Institute of International Economics, in a recent
paper argues, “TPP and FTAAP (Free Trade Area of Asia and Pacific) confront
the political reality that up to this point, only Apec members have been
deemed eligible for. Hence India would have to become an Apec member or
the current norm would have to be waived... .“
India has a credibility problem when it comes to multilateral trading
arrangements, because its trade negotiators have earned for themselves the
dubious distinction of being the loudest block in any negotiations.In recent
months, Singaporean officials have met the Indian leadership to complain
that countries negotiating RCEP (Regional Comprehensive Economic
Partnership) want India out, blaming India for the negotiations going
nowhere. In recent weeks, Indian officials have pointed to Delhi's proactive
role in negotiating a climate agreement in Paris as a sign that India was
changing its stance.

5. Contd…
China had invited India for the Apec summit in Beijing in 2014, where it
launched talks into a new FTAAP . China is also planning to get into an
expanded TPP in the coming years, either at the head of RCEP or by
itself. If India is not playing the game, trade economists say New Delhi
could be looking at large-scale trade diversion. At this moment, India is
out of talks for TPP , reluctant on RCEP , stalled on EU-India FTA and not
yet started on a bilateral investment treaty with the US.
India stayed away from the Beijing summit, so may not be invited for
the talks when they happen. The only multilateral game in play globally
at present is the WTO's Doha round, currently being negotiated in
Nairobi

6. For details and bookings contact:-
Parveen Kumar Chadha… THINK TANK
(Founder and C.E.O of Saxbee Consultants & Other-Mother
marketingandcommunicationconsultants.com)
Email :-saxbeeconsultants@gmail.com
Mobile No. +91-9818308353
Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015