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TNPSC Current Affairs | TNPSC Monthly Current Affairs
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24, Apr 2024
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TNPSC Bits

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July 19 , 2017 2471 days 1590 0
  • RCEP is the proposed mega-regional Free Trade Agreement (FTA) between 16 Asia-Pacific countries.(ASEAN+6)
  • It includes India, China, Japan, South Korea, Australia, New Zealand and the 10-member ASEAN bloc (10 members of ASEAN countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, The Philippines, Singapore, Thailand, and Vietnam).
  • The RCEP has chapters on intellectual property, investment, goods, services, telecommunications and e-commerce, and goods and services.
  • RCEP is viewed as an alternative to the TPP trade agreement, which includes the United States but excludes China.
  • In the absence of the TPP, the RCEP will emerge as the largest regional trading bloc in the world, accounting for nearly 45 per cent of the world’s population and with a combined gross domestic product of $21.3 trillion.

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