Question-Consider the following statement regarding regional comprehensive economic partnership (RCEP):
(i) RCEP has total of 16 member countries
(ii) RCEP has the USA as its founding member
(iii) 24th round of RCEP will be held in Auckland, a city in western Australia
Of the above which statement is/are correct?
(a) (i) & (ii)only
(b) (i) & (iii)only
(c) (i) only
(d) All of the above
Answer-(c)
Related facts:
- 24th round of RCEP Will be held in Auckland, city of New Zealand from 17th-24th October, 2018. Round 1 of RCEP was held on May, 2013 in Brunei.
- RCEP is a proposed free trade agreement between the ten member states of Association for South East Asian Nation (ASEAN) and the six Asia-pacific states with which ASEAN has existing free trade agreements Australia , China ,India, Japan, South Korea & New Zealand.
- Trade ministers of 16 countries have met in Singapore to review the negotiations for goods, services, economic and technical cooperation.
- There are 16 countries in the group but India does not have a free trade agreement with Australia, New Zealand and China.
- India is looking for a balanced trade agreement at it would cover 40 percent of global GDP and 42 percent world population.
References-
https://thewire.in/trade/rcep-negotiations-will-not-end-in-2018-says-suresh-prabhu
http://pib.nic.in/newsite/PrintRelease.aspx?relid=183241