BANGKOK – China joined 14 countries on Monday in agreeing terms for whatcould be the world’s biggest trade pact, but India pulled out at the lastminute on the grounds that the deal would hurt its farmers, businesses,workers and consumers.

The Sino-U.S. trade war and rising protectionism have given new impetus toyears of negotiations on the Regional Comprehensive Economic Partnership(RCEP), which brings together the 10-member Association of Southeast AsianNations (ASEAN), China, Japan, South Korea, Australia and New Zealand.

Members said the deal would be signed next year after the 15 countrieswithout India reached agreement in Bangkok on the text and market accessissues.

“Against the backdrop of a fast-changing global environment, the completionof the RCEP negotiations will demonstrate our collective commitment to anopen trade and investment environment across the region,” the countriessaid in a statement.

They opened the door to India potentially joining them later, if the issuesit has with the deal are resolved.

But Indian Prime Minister Narendra Modi said that he had to take intoaccount the interests of Indian people. – Reuters