China has sought talks with India to allay concerns on a regional free trade pact it is spearheading, two people familiar with the matter said
The 16-country Regional Comprehensive Economic Agreement has been in the works for a while, and China is keen to conclude it by end of 2019, the people said, asking not to be identified as the matter is not public. India's wariness about a possible flood of Chinese goods, and its demand for looser immigration rules for its tech professionals, remain sticking points.
Beijing is seeking newer markets amid the ongoing trade war with the U.S.
China's inability to close the trade deal highlights the suspicion among its Asian trading partners over Beijing's effort to build influence in the region. The economic agreement, along with an effort to build trade links with countries along the old Silk Road to Europe, is a key element in China's efforts to seize the geopolitical advantage after what many in the region see as a U.S. retreat under President Donald Trump.
India's foreign ministry didn't immediately respond Monday to a message seeking comments. China's commerce and foreign affairs ministries didn't immediately respond to a fax.
Business on 01/01/2019