India has blocked the establishment of the largest FTA in the world

Индия заблокировала создание крупнейшей ЗСТ в мире

At the summit of ASEAN agreed to establish a new free trade zone

The summit of the Association of Southeast Asian Nations (ASEAN) in Bangkok are unable to sign the agreement to create the largest free trade area (FTA) in the world.

As DW says, India, alarmed by the influx of cheap Chinese goods, is against it. The signing of the document was moved to February 2020.

The initiator of the new FTA were made by China. Discussing the agreement involves 10 member countries of ASEAN and Australia, India, China, New Zealand, South Korea and Japan. Thus, the agreement may include countries, which accounted for one-third of the world economy and almost half the world’s population.

The Prime Minister of Thailand prayut Chan-OCHA earlier said that the signing of the document will contribute to economic growth, trade and investment. And the Ministry of foreign Affairs of China said that the agreement “will provide the basis for economic integration of East Asia.”

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