The Regional Comprehensive Economic Partnership (RCEP), which is a proposed Free Trade Agreement between ten ASEAN member states and their six Free Trade Agreement (FTA) partners namely India, Australia, China, Japan, New Zealand and Republic of Korea, is expected to provide market access for India's goods and services exports and encourage greater investments and technology into India. It would also facilitate India's MSMEs to effectively integrate into the regional value and supply chains. On the other hand, India is not a member of the Asia-Pacific Economic Co-operation (APEC) which is a grouping of twenty-one countries in the Asia Pacific region with an aim to deepen and strengthen economic and technological cooperation amongst APEC member countries.

This information was given by the Minister of State of Commerce and Industry, C. R. Chaudhary, in a written reply in the Lok Sabha yesterday.

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Ministry of Commerce and Industry of the Republic of India published this content on 01 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 January 2019 07:48:15 UTC