Benefits: exports, technology and investments
The Regional Comprehensive Economic Partnership (RCEP) would facilitate India’s Micro, Small and Medium Enterprises (MSMEs) to effectively integrate into the regional value and supply chains.
It is expected to provide market access for India’s goods and services exports and encourage greater investments and technology into the country, Minister of State of Commerce and Industry, C. R. Chaudhary, said in a written reply in the Lok Sabha 31 Dec 2018.
RCEP is a proposed Free Trade Agreement (FTA) between 10 ASEAN member states and their six FTA partners — Australia, China, Japan, New Zealand, South Korea and India.
The Minister also pointed out that India is not a member of the Asia-Pacific Economic Co-operation (APEC), a grouping of 21 countries in the region with an aim to deepen and strengthen economic and technological cooperation amongst member countries. fiinews.com