Hindi IAS100
Register
ias100.in Official Website for Civil Services Chronicle
You are here: Daily Dose
Member countries push for early conclusion of RCEP

Asian trade ministers, negotiating Regional Comprehensive Economic Partnership (RCEP), have concluded their meeting on Monday in Hanoi, raising their voice in favour of free trade.

RCEP, if translates into reality, will be the world s largest free trade agreement. It covers more than half of world s population.

The 16 member RCEP comprises of all ASEAN(Association of South East Asian Nations) countries and six states with which it has existing free trade agreements ( China, India, South Korea, Japan, Australia and New Zealand).

Chairing the meeting Vietnamese Trade Minister said that the RCEP Agreement will convey a strong message for opening up and economic integration amidst the recent trends of going back to protectionism. This is all the more significant in the context of US withdrawal from Trans-Pacific Partnership(TPP) which it has been leading in the past. US withdrew after Trump took over the administration who termed TPP as a job killer for American youth. TPP was billed as the world s biggest trade pact at the time of it s signing in February 2016.

Critics view RCEP as another arena in which China could exert it s economic might in the region. RCEP is a much more modest deal compared to TPP, as it prescribes more limited regulatory standards. However after US withdrawal from TPP, chances of success of RCEP has been improved significantly.
 

Share Button
Advertisement

Subscribe IAS100 Newsletter

  UPSC Daily Dose : Current Affairs
Government gave a go ahead to TN NEET ordinance
India keen on expansion of oil import sources
Economic Survey lowers growth forecast
Rationalising Subsidy, Centres expenditure framework
Upper house passed Banking Regulation (Amendment)Bill
Why AIJS is not a good idea
The deaths which shook Gorakhpur
ISRO set to launch Earth Observation Satellite
Hue and Cry around Article 35 A
Swachh Gramin Survey 2017, Bharat moving towards ODF
National Food Security Act lacks governance
States unwilling for stricter Anti-Racism Law
Government skipped procedure on Cattle trade ban
Clouds hover over Finance Act
Make in India needs Effective Implementation
More..» 
Name* :   
  E-mail* :   
  Mobile* :   

  Your Query* :

  
  
Home | About Us | Contact Us | Terms & Conditions | Refund Policy | Delivery Policy | Disclaimer | Copyright Policy | Privacy policy |
Partner sites :  chronicleias.com | chronicleindia.in | cgmantra.in
 

Feedback

Please Give Your Valuable FEEDBACK To Serve You Better.

  *
  *
  *
  *
  *
Please enter security code, displayed below !
(Note: code should be entered in small letters)