Dharamshala, Nov 8 (UNI) Commerce and Industry Minister Piyush Goyal on Friday said Prime Minister Narenda Modi declined to join the proposed mega trade pact Regional Comprehensive Economic Partnership in ‘national interest’.
It was stated by Mr Goyal during the two-day long Rising Himachal 2019: Global Investors’ meet in Dharamshala which was inaugurated by the Prime Minister on Thursday.
Addressing the valedictory session, Mr Goyal said, ‘The Prime Minister took a bold step by not joining with the RCEP agreement and took the right decision in national interest.”
The RCEP agreement was negotiated since 2012 among India, Australia, China, Japan, South Korea and New Zealand and the Association of South East Asian Nations comprising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
If materialised, the pact had potential to create a free trade agreement covering a third of the world’s economy.
Talking about the the Global Investors Meet, Mr Goyal said Himachal Pradesh has emerged as a preferred destination for investment. ‘We ensure that states compete with each other for investment,’ he said.