Regional Comprehensive Economic Partnership (RCEP)
Why in News?
- The 7th RCEP Intersessional Ministerial Meeting was held during the first week of March, 2019, in Siem Reap, Cambodia.
RCEP
The Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement that is often characterised as a China-led response to the Trans-Pacific Partnership (TPP) put forward by the US.
- Its negotiations were formally launched at 2012 ASEAN Summit in Cambodia.
Countries Involved
- 10 ASEAN countries: Brunei, Indonesia, Cambodia, Laos, Myanmar, Malaysia, Philippines, Singapore, Thailand, Vietnam
- Six FTA partners: India, China, Australia, New Zealand, Japan and South Korea
Objective
- The objective of launching RCEP negotiations is to ....
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