Union Minister of Commerce and Industry Piyush Goyal met Australian Trade Minister Simon Birmingham. Both ministers discussed a series of issues related to trade. Apart from this, ways to prevent market-distorting trade practices were also discussed. The meeting took place in Bangkok on Friday, October 11, on the sidelines of the ninth Regional Comprehensive Economic Partnership (RCEP) Intersessional Ministerial meeting in Bangkok from October 11 to 12.
"Our discussions centred around preventing market-distorting trade practices and bringing a trade balance between RCEP countries," Goyal tweeted.
In addition, Goyal will also hold other bilateral meetings with counterparts from Japan, Singapore, Malaysia, China and New Zealand during his time at Bangkok ministerial meet.
Had a discussion with @DarellLeiking, Minister of International Trade and Industry of Malaysia.— Piyush Goyal (@PiyushGoyal) October 12, 2019
We spoke on the need for reciprocity in trade for mutual economic growth and prosperity. pic.twitter.com/5TPQp1TUyG
Engaged with @DamienOConnorMP, Minister of State for Trade and Export Growth of New Zealand.— Piyush Goyal (@PiyushGoyal) October 12, 2019
We discussed ways to further deepen our bilateral cooperation & strengthen our trade & investment ties, while taking into account the concerns of our farmers and the dairy sector. pic.twitter.com/L0hXg3ulFK
At the 9th RCEP Ministerial Meeting met Isshu Sugawara, Minister of Economy, Trade and Investment of Japan.— Piyush Goyal (@PiyushGoyal) October 12, 2019
Our two nations share common goals which can be used to further strengthen bilateral cooperation on the trade and investment front. pic.twitter.com/OkKbzaeYlJ
The RCEP meeting was the last ministerial meeting before the scheduled third Leaders Summit slated to be held on November 4 in Bangkok. Prime Minister of India Narendra Modi will be joining the summit. The RCEP is trade agreement in cooperation with other partners which include People's Republic of China (ACFTA), Republic of Korea (AKFTA), Japan (AJCEP), India (AIFTA) and Australia and New Zealand (AANZFTA). The negotiations commenced after they were launched by leaders of the ten ASEAN member countries, namely Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam and additional six ASEAN FTA partners (Australia, People's Republic of China, India, Japan, Republic of Korea and New Zealand).
The upcoming Bangkok ministerial meet will be a base of ministerial guidance where issues will be addressed. Other things on the agenda include discussions of preparations for the third Leaders Summit. The Union Minister also held several consultations with the Indian industry for cementing India's position and for taking into consideration the industry's range of concerns and sensitivities.
(With ANI Inputs)