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Trade agreement includes China but not U.S. or India

first_imgSINGAPORE — The formation of the world’s largest free trade bloc in Asia-Pacific sends a signal that there’s a need for economic integration despite existing challenges, according to a Singapore government official.Fifteen Asia-Pacific countries, including Singapore, signed the Regional Comprehensive Economic Partnership (RCEP) on Sunday. Those nations have a combined population of over 2 billion and total GDP of more than $26 trillion — and make up about 30% of the world population and global economy.The 10 member states of the Association of Southeast Asian Nations (ASEAN) signed the RCEP deal with their top trading partners: China, Japan, South Korea, Australia and New Zealand. The countries that make up ASEAN are: Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, Brunei, Cambodia, Myanmar — formerly Burma, and Laos.- Advertisement – Notably, the agreement excludes the United States and can potentially allow China to cement its position as a vital trade partner for Southeast Asia and the other countries in the deal. Representatives of signatory countries are pictured on screen during the signing ceremony for the Regional Comprehensive Economic Partnership (RCEP) trade pact at the ASEAN summit that is being held online in Hanoi on November 15, 2020.Nhac Nguyen | AFP | Getty Images … I think all the member countries remain open to the prospect of India joining at the appropriate time.S IswaranSingapore’s minister for communications and information “RCEP is an important development but also a very important signal to global markets that even as we fight the challenge of (the coronavirus pandemic), the public health care challenge as well as the economic challenge, we need to continue to build bridges and economic integration,” S Iswaran, Singapore’s minister for communications and information, told CNBC’s “Squawk Box Asia” on Monday.Iswaran is also the minister-in-charge of trade relations and oversees the city-state’s bilateral and multilateral trade negotiations at Singapore’s Ministry of Trade and Industry.The RCEP agreement outlines provisions for preferential access in trading goods, standard rules around investment and disciplines governing that, enhanced trade facilitation measures as well as “forward-looking aspects” such as e-commerce and competition laws and intellectual property rights, according to Iswaran.‘Political will and commitment’By virtue of its size and the diversity of its membership, RCEP “signals a commitment and level of ambition, in terms of economic integration,” he said. “It’s been a long haul over eight years but I think the outcome is well worth the effort.”He explained that since the signing was endorsed and witnessed by the leaders of the 15 countries, there is “political will and commitment” to get things done under the agreement. The impetus comes from the fact that governments recognize that current circumstances, exacerbated by the coronavirus pandemic, require them to move quickly on economic initiatives to unlock opportunities for their people and businesses, Iswaran said. One of the ways to do that is by linking up with regional and global economies through agreements like RCEP, he added. – Advertisement –center_img It’s been a long haul over eight years but I think the outcome is well worth the effort.S Iswaran- Advertisement – The agreement aims to “abolish some 92% of traded goods tariffs,” Lavanya Venkateswaran, an economist at Mizuho Bank’s Asia & Oceania Treasury Department, said in a note. It “would be critical in deepening supply-chain linkages, with a reach into the service sector with ambitions of 65% of service sector being fully open under the RCEP.”The RCEP “is a much-need and overdue life-line for global trade that is based on multi-lateral trade cooperation, engagements and rules,” Venkateswaran said, adding, “Arguably, there are also hopes pinned on RCEP helping to catalyze the recovery in global trade and commerce.”India and the U.S.Negotiations for RCEP began in 2013 and initially included India, whose presence was seen by some members as a counterweight to China. But New Delhi last year declined to join RCEP, stating that some of its “issues of core interest” remained unresolved.Iswaran told CNBC the door remains open for New Delhi to rejoin the agreement when it wants to.“India has been involved in a lot of the negotiations and would understand the nuances and I think all the member countries remain open to the prospect of India joining at an appropriate time,” he said.The United States under President Barack Obama was part of a rival regional trade pact called the Trans-Pacific Partnership, which excluded China.The TPP never went into effect as the U.S. left the agreement under President Donald Trump and a new version of that pact emerged, called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The CPTPP was signed by all of the TPP signatories except the U.S.Iswaran said Singapore as well as other Asian partners value U.S. engagement in the region. “I think the key point is we want to deepen the engagement of the U.S. economy with this part of the world,” he said, adding that could either be through RCEP or CPTPP or some other agreement. Singapore’s minister for communications and information – Advertisement –last_img read more

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Warsaw returns

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img


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Super Eagles star eligible for South African citizenship

first_imgThe goalie arrived in the country in 2015, meaning he will complete their five-year stay in South Africa at the end of the current campaign.Akpeyi signed for Chippa United from Warri Rovers before joining Amakhosi in January 2018 following an injury to Itumeleng Khune.He has managed to keep the No.1 shirt at the club, relegating Khune to the bench, especially this term.Akpeyi has also signed a new two-year deal with Amakhosi.Super Eagles and Kaizer Chiefs goalkeeper Daniel Akpeyi set for Pirates challengeRead Also: Real Madrid consider Osimhen’s teammate at LilleHowever, for the Soweto giants to use the space left in their foreign quota, they will have to win their appeal against the two-window transfer ban imposed by Fifa in February this year.With Akpeyi set to be registered as a local player, Chiefs will then have a foreign international registered. Loading… Promoted ContentThe 9 Best Robots In Movie HistoryThe Very Last Bitcoin Will Be Mined Around 2140. Read More8 Fascinating Facts About Coffee10 TV Characters Who Were Destined To Become IconicThese Are The Best Stargazing Locations You Can Find On EarthMind-Bending Technology That Was Predicted Before It AppearedCouples Who Celebrated Their Union In A Unique, Unforgettable Way20 Completely Unexpected Facts About ‘The Big Bang Theory’A Hurricane Can Be As Powerful As 10 Atomic BombsTop 7 Best Car Manufacturers Of All TimeWho Earns More Than Ronaldo?You’ve Only Seen Such Colorful Hairdos In A Handful Of Anime FacebookTwitterWhatsAppEmail分享 Super Eagles shot-stopper Daniel Akpeyi is eligible to apply for South African citizenship next season.Advertisementlast_img read more


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Leinster close in on home semi

first_img Press Association It was a huge effort from Ulster, who were forced to play most of the game with 14 men after losing Tom Court to a red card – their second sending-off in three home games after Jared Payne’s dismissal against Saracens last month – early in the first half. Leinster, though, were down to 13 men at one point in the opening period after Rob Kearney and Rhys Ruddock were shown yellow by English referee Luke Pearce. Even though Leinster were back to full strength at the end of the half, Ulster still held out and the half ended with the visitors leading 9-8. Leinster had the first scoring opportunity of the second half but Madigan put another long-range effort wide after 44 minutes and then he was wide again two minutes later with a much more straightforward effort. Ulster again conceded a kickable penalty but this time Madigan went for the corner and the net result was more heroic defending from Ulster as Dave Kearney was tackled into touch when a try looked certain. Still, the visitors did manage to score when Madigan landed his fourth penalty on 52 minutes to take their lead to 12-8. The home side, though, then came back again with Jackson’s second penalty narrowing Leinster’s lead to a single point again after 56 minutes. But after Tommy Bowe knocked on the restart, Leinster attacked down the right channel and Brian O’Driscoll drew two defenders before off-loading inside to Jennings, who scored at the posts, allowing Madigan to convert and put the visitors 19-11 in front. Typically, though, Ulster responded and, after replacement Darren Cave’s clean break, they won a penalty near the sticks and Jackson slotted the kick to take his side back within bonus-point territory. It didn’t last, though, and after conceding another scrum penalty, Leinster replacement Jimmy Gopperth nailed his first penalty to put his side 22-14 ahead with 11 minutes remaining. The see-saw nature of the scoring continued and after Leo Cullen was penalised, Jackson closed the gap to five points which then became two with his fifth successful penalty in the 77th minute. Table-toppers Leinster were made to fight tooth and nail for a 22-20 success which puts them on the verge of securing a home semi-final, while Ulster’s losing bonus point brought them a guaranteed place in the play-offs which could actually see the sides clash again. Shane Jennings scored Leinster’s only try of the night in the second half while Ian Madigan kicked four penalties and a conversion – though he missed three kicks at goal – while replacement Jimmy Gopperth nailed a penalty. Man of the match Paddy Jackson scored all Ulster’s points, on the night the new Ravenhill was officially opened, with five penalties and a try on an emotional occasion as skipper Johann Muller and Court played their last games at the ground. Madigan opened the evening’s scoring with a fifth-minute penalty after Ulster’s scrum was demolished on their own put-in and the Leinster out-half then added a second after 11 minutes. Shortly after Paddy Jackson put the restart out on the full, Madigan had a third shot at goal from long range but hit the attempt wide – then came Court’s red card. But with their backs to the wall, it was Ulster who scored next after Jackson charged down a Madigan chip to score in the corner with Leinster then being reduced to 14 after Rob Kearney’s high tackle on the Ulster out-half as he crossed the line. Jackson failed to land the difficult conversion from his 23rd-minute score, but Ulster, against the odds, were right back in the game and their cause was further helped when Ruddock was shown yellow three minutes later after Jackson was taken out in the air. It was Leinster, now down to 13 men, who found themselves on the back foot and though they survived an attacking five-metre scrum from Ulster, they were pinged just after the half-hour at the breakdown and Jackson kicked the home side into the lead at 8-6. Their lead did not last, though, as Madigan kicked Leinster back into a single-point lead with his 35th-minute penalty just as Rob Kearney arrived back to bring the visitors back to 14 men on the park. last_img read more


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Trump says he’s thinking of attending historic SpaceX launch at NASA’s Kennedy Space Center next week

first_imgVice President Mike Pence also said he plans to attend the historic SpaceX launch at NASA’s Kennedy Space Center next week. President Trump says he’s “thinking” about going to the SpaceX rocket launch next week and tells reporters, “I’d like to put you on the rocket and get rid of you for a while” https://t.co/Nj065CIsxp pic.twitter.com/eNIIS3Jgox— CBS News (@CBSNews) May 21, 2020 President Donald Trump said Thursday that he may attend SpaceX rocket launch next week at NASA’s Kennedy Space Center.The test flight is set for May 27th, and it will l be the final test for SpaceX’s Crew Dragon spacecraft before it enters regular service.The mission will also mark the first time astronauts launch into orbit aboard a private company’s spacecraft, and would be the first manned space flight launched from the U.S. in almost nine years.“I’m thinking about going, that will be next week, to the rocket launch,” the President told reporters before leaving for a day trip to Michigan.He also playfully told reporters “I hope you’re all going to join me. I’d like to put you on the rocket, get rid of you for a while,” the President said.last_img read more


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Wimbledon: Djokovic Stunned by Querrey in Third Round

first_imgNovak Djokovic was stunned by Sam Querrey in the third round at Wimbledon as he lost 6-7 4-6 6-3 3-6 to the American. The world No 1 fought back to take the third set having started the day two sets down yesterday.But Querrey, the No 28 seed, battled to a fourth-set tie-break, in a match that was interrupted by rain on Court No 1, and clinched it 7-5. “I’m ecstatic, it’s the biggest tournament in the world,” Querrey said. “I played the break points really well, came up with a big serve, got a couple of losing errors in the tie-break.”On how he felt overnight, he added: “He came out and got the first four games, then we had another rain delay and I was able to regroup. “He is on the way to being the greatest ever, so I knew he would be mentally tough. I am just going to be happy with this and look forward to the next round a bit.”Djokovic, who confirmed afterwards he would not play in the Davis Cup quarter-final against Britain this month, was gracious in defeat, congratulating his opponent and saying: “Congratulations to Sam. He played a terrific match.He serves very well. I think that part of his game was brutal today. He just overpowered me. I had my chances. I just wasn’t feeling the ball as well as I wished.”It leaves Andy Murray, the British No 1 and No 2 seed, the favourite for the trophy with Djokovic failing in his attempt to win the Golden Slam (all four majors and the Olympic title) this year. Querrey will face France’s Nicolas Mahut in the fourth round.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more


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No. 4 men’s golf dominates tournament

first_imgUSC’s men’s golf team destroyed the field at the Jones Invitational at Valencia Country Club Tuesday. The tournament hosted by Pepperdine consisted of three rounds over a two-day span and a fifteen team field.Atop the leaderboard by 16 shots, USC rolled to a victory finishing with a 14-under score. The second-closest team was Kennesaw State at 2-over par, and Northwestern finished behind them with a score of 6-over.Freshman Sean Crocker led not only the Trojans, but also the tournament as he garnered a share of the individual title. Crocker shot a final round score of 66, good enough for 6-under par on the course. Crocker finished the tournament with a score of 8-under, forcing a playoff with Winthrop’s Zach Seabolt. When both golfers made par on the first playoff hole, they advanced and Seabolt sunk a birdie putt to secure the win.“Sean Crocker has had an incredible freshman year so far,” USC coach Chris Zambri said after the tournament. “I expect bigger and better things as we go forward.”Such high praise was well deserved for Crocker whose final round included six birdies, five of which came on the back nine where Crocker scored 5-under. He birdied 15, 17, and 18 to catch Seabolt.Crocker has four top-four finishes this season. In the nine spring rounds Crocker has competed in, six have resulted in rounds in the 60s. Crocker has a team-high 14 rounds in this range over the course of the 24 round season thus far.“We have big goals this year and in order to achieve them we have to win,” Zambri said. “We have to know what it feels like to win and we have to have the skill to win.”The Trojans certainly displayed their talent with three additional players finishing in the top 11 of the tournament. Sophomore Rico Hoey played well over the two-day tournament, ending at 3-under, which was good enough for fourth in the field of 80. Hoey’s round contained four birdies. The top five finish was the fifth of the year for Hoey.The youth movement continued for the Trojans as freshman Jonah Texeira tied for sixth with a score of 1-under and a final round with two birdies. Texeira has three top 10 finishes this season.Junior Bobby Gojuangco also played well for the Trojans. A final round fraught with four birdies landed Gojuangco in a tie for 11th place at even par. Texeira now has four top 11 finishes on the season.The victory was the third of the season for the Trojans. USC will next be in action on March 9, 10 and 11 at the Southern Highlands Collegiate Masters which will be played in Las Vegas at the Southern Highlands Country Club.last_img read more


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Liverpool in Europa League final this evening

first_imgThe Merseysiders have traveled to Switzerland to face Sevilla in the Europa League Final with the winners also securing a place in next season’s Champions League group stages.Reds boss Jurgen Klopp lost several finals while in charge of Borussia Dortmund – including the 2013 Champions League decider against Bayern Munich – but he says that those failures have driven him on to succeed.Kick-off tonight is at 19:45.last_img


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Lillard, McCollum lead Trail Blazers past Wizards, 122-103

first_img WATCH US LIVE LIVE TV Written By FOLLOW US Damian Lillard scored 35 points and CJ McCollum added 24 in the Portland Trail Blazers’ 122-103 victory Friday night over the Washington Wizards, who were short-handed even before losing Isaiah Thomas to a first-quarter ejection.Hassan Whiteside added 23 points, 21 rebounds and five blocks for Portland, which snapped a five-game losing streak.Thomas was ejected less than 1 1/2 minutes into the game for making contact with an official. Thomas was tied up along the sideline by Portland’s Carmelo Anthony. As he broke away from Anthony he made contact with referee Marat Kogut, who stumbled into the crowd.Jordan McCrae scored a season-high 35 points, including 13 in the fourth quarter, for Washington. Garrison Mathews added 18 points and Ish Smith scored 16 for the Wizards, who have lost four of five.Playing without Bradley Beal, Washingon’s top three scorers were reserves.Beal is day-to-day. He returned Wednesday against Orlando after missing two games with lower leg soreness and collided with the Magic’s Jonathan Isaac early on. Wizards coach Scott Brooks said the collision aggravated Beal’s injury.McCollum started an 11-1 run in the third quarter with a jumper and then added a 3-pointer to make it 73-64. Whiteside scored four straight points on a tip-in and layup and, after a Washington free throw, Lillard hit two foul shots to put Portland up 79-65.McCrae’s 3-pointer pulled Washington within 103-96 with 5:54 left, but Lillard answered with a jumper followed by a 3-pointer to make it 108-96.TIP-INSTrail Blazers: Forward Mario Hezonja returned after missing four games because of lower back pain. … Lillard has scored at least 29 points in the teams’ last six matchups. … Whiteside has 26 double-doublesWizards: Have 20 20-plus point games from bench, second-most in the NBA behind the Clippers (31). … Wizards bench has 17 games of 50 or more combined points. … Have 32 consecutive games of 100 or more points, fifth-longest streak in team history. … Are 1-15 when they score less than 110 points.UP NEXT:Trail Blazers: Continue road trip on Sunday when they visit the Miami Heat.Wizards: Host the Denver Nuggets on Saturday. First Published: 4th January, 2020 11:40 ISTcenter_img SUBSCRIBE TO US Associated Press Television News COMMENT Last Updated: 4th January, 2020 11:40 IST Lillard, McCollum Lead Trail Blazers Past Wizards, 122-103 Damian Lillard scored 35 points and CJ McCollum added 24 in the Portland Trail Blazers’ 122-103 victory Friday night over the Washington Wizards, who were short-handed even before losing Isaiah Thomas to a first-quarter ejection.last_img read more


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Bolt wanted in off the track role at Commonwealth Games

first_imgUsain Bolt Wanted Jamaican sprint King Usain Bolt may yet make an appearance at the Commonwealth Games despite ruling out competing next year in the Gold Coast of Australia.This time he may appear of some sort in a capacity off the track.“He won’t be competing, you all know that, but we are trying to get him to come in some capacity,” Gold Coast organizing committee chairman Peter Beattie told reporters on Wednesday.“(GOLDOC chief executive) Mark (Peters) has met with the (athlete’s) manager on a couple of occasions and we will continue those discussions. We will do everything we can to get Usain Bolt to the Gold Coast for this event,” he added.The 30-year-old world record holder, who completed a “treble treble” of 100m, 200m and 4x100m Olympic titles at the 2016 Rio Games, said in February he had no plans to extend his career beyond this year’s world championships in London.Bolt last raced in Melbourne last month at the first Nitro Series meeting with a team of international “All-Stars”.last_img read more