China: no intention to pursue trade surplus with India Welcome India to join RCEP as soon as possible
In response to India's announcement of its withdrawal from the Regional Comprehensive Economic Partnership Agreement ((RCEP),), Geng Shuang, spokesman for the Chinese Foreign Ministry, said at a regular press conference on the 5th that China has no intention to pursue a trade surplus with India and is willing to do so in the spirit of mutual understanding and accommodation. Work with the parties to resolve the problems faced in the negotiations with India and welcome India's accession to the agreement as soon as possible.
A reporter asked: what is China's comment on India's decision not to join the Regional Comprehensive Economic Partnership Agreement ((RCEP),)?
Geng Shuang responded that RCEP is a regional free trade arrangement that is essentially mutually beneficial and win-win. If RCEP is signed and implemented, it will of course facilitate the entry of Chinese goods into the Indian market and the markets of other participants. By the same token, it would also facilitate the entry of Indian goods into the Chinese market and the markets of other participants. This is a two-way and complementary process.
He pointed out that China and India are both emerging and developing powers, with a huge market of 2.7 billion people, and there is great potential for trade between the two countries. Over the past five years, China's imports from India have increased by 15%. China has no intention to pursue a trade surplus with India. The two sides can further broaden their thinking and take comprehensive measures to strengthen cooperation in the fields of investment, production capacity and tourism. Keep making the cooperation cake bigger. In the process of cooperation and development between the two countries, to achieve the balance and sustainable development of economic and trade cooperation between the two countries.
Geng Shuang stressed: the RCEP is open, and China is willing to work with all parties to continue to negotiate and resolve the problems faced in the negotiations with India in the spirit of mutual understanding and accommodation, and we welcome India's accession to the agreement as soon as possible.
Another reporter asked, you just said that India does not join the RCEP, considering that the two sides have a population of 2.7 billion, do you think this will have a negative impact on this agreement?
"first of all, as I have just said, China is willing to work with other parties to continue consultations to resolve the remaining issues in the negotiations with India in the spirit of mutual understanding and accommodation, and we also welcome India's accession to the agreement as soon as possible." Geng Shuang said.
He further said that on the 4th, the third meeting of RCEP leaders was held in Bangkok, which issued a joint statement. The 15 member states have concluded text negotiations in all 20 chapters, as well as virtually all market access negotiations, and will start a review of legal texts with a view to signing the agreement by 2020, the statement said. The international community is generally concerned about this important progress, and it is generally believed that the completion of the RCEP negotiations under the current situation has sent a positive message of building an open world economy and supporting free trade. It is also conducive to promoting trade and investment liberalization and facilitation in the region, enhancing the potential for regional development, and benefiting the people of all countries in the region. (Huang Yuqin)