Australia's Tony Abbott calls India's decision to opt out of RCEP a 'smart move'

Australia’s special trade envoy to India Tony Abbot called New Delhi’s decision to opt-out of  Regional Comprehensive Economic Partnership (RCEP)  a “shrewd move”, allowing it to focus more on Indo-Australia bilateral deals. The former Australian PM made the remarks while addressing media reporters in New Delhi with the Union Minister of Commerce and Industry Piyush Goyal. 

Addressing media reporters, the Australian envoy said, “It was a smart move by India to move out of the RCEP so we could focus on the bilateral deal between India and Australia”. In addendum, he says, “Australia has what India needs to ensure that 'Make in India' becomes a reality.” 

What is the RCEP act?

The 2012 RCEP is a trade pact between 10 nations of the Association of Southeast Asian Nations (ASEAN) as well five additional states -- Australia, China, India, Japan, New Zealand and the Republic of Korea. Experts had warned that the RCEP could facilitate Bejing to bolster its trade manifold. Meanwhile, amidst increasing concerns of cheaper Chinese imports, India opted out of the pact last year. 

Abbot hits out at China 

Hitting out at China and hailing India for its democracy and good business sense, Abbot lambasted the communist country stating that it has "weaponise trade." On Thursday, he held talks with the Union Minister of Commerce & Industry Piyush Goyal in New Delhi and deliberated upon bolstering bilateral trade between India and Australia. While he floated plans to increase economic cooperation with India, the Australian lawmaker hit out at China stating that it has become difficult to see China as a "trusted trade partner." 

Addressing a press conference in the aftermath of the meet, Abbot said, "Over last few years, I've seen a very different China. What we're seeing from China is the weaponisation of trade. Around 20 billion dollars worth of Australian trade was arbitrarily suspended by China. Under such circumstances,difficult to see China as a trusted partner."

(Image: PTI/ANI)