Signing RCEP suicidal, will protest: Cong

New Delhi, October 25

The Congress today said it will not let Prime Minister Narendra Modi sign the Regional Comprehensive Economic Partnership (RCEP) in Bangkok in the coming days and will launch a nationwide stir to stop the BJP.

“The RCEP will prove suicidal for the economy. It will prove to be the third blow to our economy after demonetisation and a poorly executed GST,” senior Congress leader Jairam Ramesh said today after top party leaders met here and decided to oppose the RCEP as “detrimental in these times of economic crisis.”

The meeting was chaired by Congress president Sonia Gandhi and it also decided to oppose the Citizenship Amendment Bill, besides discussing the implications of the results in Haryana and Maharashtra where the Congress did better but has not landed a pole position.

Senior Congress leaders AK Antony, Ramesh, KC Venugopal and Randeep Surjewala said the party had already given an agitation programme to all state units from November 5 and 15 to protest the plan of the PM to sign the RCEP, which 16 other nations are also signing.

“Our country is heading for a economic crisis and slowdown. This is the time for a responsible government, which is concerned about the difficulties of the people. It is time the government deploying its resources for speedy economic revival. But instead, the Centre is all set to sign RCEP,” said Antony. — TNS

What is RCEP?  

A free trade pact between 10 countries of the ASEAN bloc and its six associate members China, Japan, South Korea, India, Australia and New Zealand

Concerns in india 

• Increase in imports, negative impact on MSMEs 
• Dairy imports to hit local cooperatives’ business 
• Chinese ghost companies circumventing restrictions
• Frontloading of Indian cuts in tariffs

Who’s complaining?  

Iron and steel, dairy and milk products, textiles, electronics manufacturers, marine products, chemicals, pharmaceuticals and plastic industries

Govt’s position  

• Auto-trigger mechanism if imports crosses ceiling
• Nil import duty on 74% of products should be pushed to the tail of 20-year period 
• ith weakening of the WTO, staying out of RCEP will be self-isolationist and status-quoist

‘Imports will be up’ 

With the signing of RCEP, imports from China and milk and dairy from New Zealand and Australia will be boosted, hurting the local agriculture sectors. Gujarat Milk Cooperative has even written to the Commerce Minister against the deal.— Jairam Ramesh, Congress leader