Consider the following statements about the Regional Comprehensive Economic Partnership (RCEP) : 1. It is a comprehensive free trade agreement between the ASEAN member States and ASEAN's free trade agreement partners. 2. India opted out of RCEP. Which of

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Q: 113 (CDS-I/2024)
Consider the following statements about
the Regional Comprehensive Economic
Partnership (RCEP) :

1. It is a comprehensive free trade
agreement between the ASEAN
member States and ASEAN's free
trade agreement partners.
2. India opted out of RCEP.

Which of the statements given above
is/are correct?

question_subject: 

Economics

question_exam: 

CDS-I

The Regional Comprehensive Economic Partnership (RCEP) is indeed a comprehensive free trade agreement between the ASEAN member states and ASEAN's free trade agreement partners, which include countries like China, Japan, South Korea, Australia, and New Zealand. This confirms that statement 1 is correct. Additionally, India opted out of the RCEP negotiations in 2019 due to concerns about the potential negative impact on its domestic industries and trade deficit. Therefore, statement 2 is also correct. Hence, both statements 1 and 2 are correct.