The term ‘Regional Comprehensive Economic Partnership’ often appears in the news in the context of the affairs of a group of countries known as
Detailed Explanation:
Answer: Option 2 — ASEAN
The Regional Comprehensive Economic Partnership (RCEP) is a mega free trade agreement signed in November 2020 involving ASEAN (Association of Southeast Asian Nations) and its five major trading partners — China, Japan, South Korea, Australia, and New Zealand. ASEAN is at the core of this partnership, making it the largest regional trading bloc covering approximately 30% of global GDP and population. India was initially part of the negotiations but withdrew in 2019 citing concerns over trade deficits and impact on domestic industries. The agreement came into force in January 2022 and aims to reduce tariffs, streamline trade rules, and enhance economic integration across the Asia-Pacific region.
Question 10 of 14 Regional Organizations & Groupings
Practice PYQ questions from this topic across all years
What is/are the consequence/consequences of a country becoming a member of the 'Nucle...
Which of the following is not a member of ‘Gulf Cooperation Council’?