China-backed trade pact playing catch-up after US-led TPP deal

Seoul

LEFT out of the US-backed Trans-Pacific Partnership (TPP) trade pact struck last week, China and India will approach this week's talks for a huge Asia-wide equivalent with fresh urgency, lest competitor nations steal a march on export access.

Beijing is a key driver of the Regional Comprehensive Economic Partnership (RCEP), a proposed 16-nation free-trade area (FTA) that would be the world's biggest such bloc, encompassing 3.4 billion people. "Member countries will be under pressure to fast-track negotiations for RCEP," said a senior official in India, which is keen to avoid being excluded from major trade accords.

While China's rivalries with India …