Question
The term ‘Regional Comprehensive Economic Partnership' often appears in the news in the context of the affairs of a group of countries known as
(a) G20
(b) ASEAN
(c) SCO
(d) SAARC
Answer:
B
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Explanation:
The term "Regional Comprehensive Economic Partnership" (RCEP) refers to a free trade agreement among a group of countries known as ASEAN (Association of Southeast Asian Nations) and its six trading partners, which include China, Japan, South Korea, Australia, New Zealand, and India. RCEP is aimed at promoting economic cooperation, reducing trade barriers, and facilitating investment among the participating countries. It is considered one of the largest regional trade agreements, covering a significant portion of the global economy.