Close X
Friday, November 29, 2024
ADVT 
International

India must decide on joining APEC: Chinese daily

Darpan News Desk IANS, 17 Nov, 2014 10:18 AM
It is high time India took a decision on joining the Asia-Pacific Economic Cooperation (APEC) after having declined to attend the bloc's annual summit in Beijing earlier this month despite being invited by host China, a leading Chinese daily has said.
 
"India's refusal to attend the APEC meeting confuses observers on two further fronts. First, APEC is a not-to-be-missed opportunity for the Modi government to garner support among APEC members and display Modi's resolve in building up a new image of India for stronger economic integration into the world trade system," said an opinion piece headlined "It’s crunch time for India: Integration into or isolation from APEC?” in the Global Times English daily.
 
“Second, India has been pursuing APEC membership for two decades. India has secured vocal support from the US, Japan and Australia. China's support can significantly amplify its chances and expedite the process.”
 
APEC is a forum comprising 21 Pacific rim member economies.
 
According to the article, India would not be bound by any obligations but only stood to gain by joining this economic bloc.
 
“India is not an APEC member and thus attending the meeting does not bind it to any formal obligations, especially so when considering that APEC is not a binding forum.” the writer, Xie Chao, a PhD candidate at Tsinghua University's department of international studies, stated.
 
“Compared with APEC, the World Trade Organization (WTO) puts more binding institutions on its members and India has used its WTO membership to drive its initiatives and protect its core interests,” it added, pointing as an example India's recent blocking of the WTO Trade Facilitation Agreement to preserve its domestic farm subsidy system.
 
According to the article, India is a strong candidate for entry into APEC but “its recent moves regarding WTO negotiations and declining this APEC meeting invitation present us with an India in contradiction”.
 
“An India with stronger confidence and closer integration into the regional economy will benefit all sides,” it stated. 
 
“China has realised this and as some observers have pointed out, the invitation (by Chinese President Xi Jinping) itself is an implicit Chinese endorsement of membership,” the writer observed. 
 
“So now comes India's choice: to integrate with or isolate itself from APEC?”
 
The greatest benefit from APEC, the article stated, was in it “being a mature regional economic forum bringing the North and South countries together to promote multinational trade and investment facilitation agendas”.
 
“Hence, India's economic reform and development could certainly benefit from APEC institutions for broader contact with other Asia-Pacific countries. Its relatively isolated economy can find better ways to integrate into world trade systems.”
 
The 2014 APEC Summit was held in Beijing Nov 10-11. Apart from India, President Xi also invited Pakistan and Mongolia as observers. The latter two attended.

MORE International ARTICLES

51 IS militants killed in Iraq

51 IS militants killed in Iraq
A total of 51 Islamic State (IS) militants were killed in airstrikes and clashes with Iraqi security forces in Iraq's central province of Salahudin Thursday, a provincial security source said....

51 IS militants killed in Iraq

India-Russia ties will be strengthened: Modi tells Medvedev

India-Russia ties will be strengthened: Modi tells Medvedev
Indian Prime Minister Narendra Modi Thursday met his Russian counterpart Dmitry Medvedev and said he was sure India-Russia ties will be strengthened....

India-Russia ties will be strengthened: Modi tells Medvedev

Indian army chief conferred honorary Nepal Army title

Indian army chief conferred honorary Nepal Army title
Nepalese President Ram Baran Yadav Thursday conferred the honorary title of General of the Nepal Army upon visiting Indian Army Chief Gen. Dalbir Singh....

Indian army chief conferred honorary Nepal Army title

Wagah suicide bomber was 25-year-old: militants

Wagah suicide bomber was 25-year-old: militants
The Tehreek-i-Taliban Pakistan's (TTP) Jamaat-ul-Ahrar faction Thursday released details of a man it said carried out the deadly suicide bombing near the Pakistan-India...

Wagah suicide bomber was 25-year-old: militants

Investigators leave MH17 crash site in east Ukraine

Investigators leave MH17 crash site in east Ukraine
Dutch investigators probing the Malaysia Airlines flight MH17's crash site Thursday left the Donetsk region in east Ukraine....

Investigators leave MH17 crash site in east Ukraine

Imran Khan dares Pakistan government to arrest him

Imran Khan dares Pakistan government to arrest him
Pakistan's Tehreek-i-Insaf (PTI) party chairman Imran Khan has refused to seek bail after being charged with attacks on the parliament and PTV buildings in Islamabad, media reported Thursday....

Imran Khan dares Pakistan government to arrest him