India seeks greater market access for professionals in the proposed RCEP

October 23, 2015
India has raised its voice for larger market access for the professionals in the Regional Comprehensive Economic Partnership (RCEP), and it is also negotiating with around fifteen countries. Among them are the ten-member ASEAN countries like Japan, China, South Korea, New Zealand and Australia.

India seeking greater market access for professionals in the proposed RCEP

According to a government official, India circulated a paper on what it is expecting in terms of the market access for the workers in the negotiation round previous week in South Korea, and it also stress that the agreement of liberalization in the investments and goods were dependent upon the deal for the movement of professionals.

India told that that all the members shall provide concessions for the business travelers, independent professionals and the supplier services based on contracts (CSS).  It also wants trouble-free visa regime for the Indians who visit other countries either on transfer based on intra-corporate for working at the different office of their employees in other country or service a client through the contract. It also seeks that the members of the RCEP shall increase the visa numbers they provide for different categories of the independent professionals.

India also insisted on the deal for liberalization of the movement for the workers (Mode 4). Around 14 members except Indonesia and India has already exchanged first offers for opening the goods market. And both these countries have promised to do it very soon.

The official told that they will be having a conclusion round of meetings with other Departments and Ministries including the revenue, industrial policy and promotion department, agriculture, heavy industries and steel. 

US, Canada, South Korea, Japan, Chile, New Zealand, Australia, Vietnam, Peru, Malaysia, Singapore, Brunei have already finalized the Pact for Trans-Pacific Partnership. That will result in world’s biggest zone for free trade,  and it will be vital for India for ensuring that the negotiations under the RCEP are successful. The RCEP after the conclusion can match TPP in the size and increases as it will be accounting for 45% of total world population and GDP of more than $21 million.

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