ASEAN free trade deal pushed to 2019

Leaders of Southeast Asian countries, including India, have pushed back an agreement on a pan-Asian free trade deal amidst disagreements on various issues. Prime Minister Narendra Modi is in Singapore to negotiate the mega free trade agreement Regional Comprehensive Economic Partnership (RCEP) with representatives of 16 other countries.

The two-day RCEP Ministerial meeting at the 33rd ASEAN Summit failed to reach a consensus on issues related to e-commerce, competition and investment, though progress was made on several other issues.

Singapore PM said a final agreement on the deal, which is expected to encompass nearly half the world’s population and 40% of world trade, will be pushed to 2019.