The term Regional Comprehensive Economic Partnership often appears in the news in the context of the

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

Accepted Answer

Regional Comprehensive Economic Partnership (RCEP) is an agreement among ASEAN and six FTA partners: Australia, China, India, Japan, South Korea, and New Zealand. The negotiations for this partnership began following the Declaration of the Leaders during the ASEAN Summit in November 2012, with the first round of negotiations starting in May 2013.As of the 10th round, held from 8 to 16 October 2015 in Busan, Korea, the discussions have covered various areas including:Trade in goodsServicesInvestmentIntellectual propertyEconomic and technical cooperationCompetitionE-commerceLegal and institutional issuesIt is important to note that Papua New Guinea is not a member of ASEAN.