2024 · Q96
Consider the following statements about the Regional Comprehensive Economic Partnership (RCEP):
- 1It is a comprehensive free trade agreement between the ASEAN member States and ASEAN's free trade agreement partners.
- 2India opted out of RCEP.
Which of the statements given above is/are correct?
General KnowledgeCurrent Affairs
- A1 only
- B2 only
- CBoth 1 and 2
- DNeither 1 nor 2
Explanation
Statement 1 is correct: the Regional Comprehensive Economic Partnership is a free trade agreement between the ten ASEAN member states and five of ASEAN's FTA partners (China, Japan, South Korea, Australia and New Zealand). Statement 2 is correct: India, which had participated in the negotiations, opted out of RCEP in November 2019 over concerns about trade deficits and market access. Both statements are correct, so the answer is (C).