With Reference to Regional Comprehensive Economic Partnership RCEP Consider the following statements...........

International Affairs ASEAN

With Reference to Regional Comprehensive Economic Partnership (RCEP), Consider the following statements:

1.RCEP is a collective effort of ASEAN and BIMSTEC group of Nations to establish a free trade zone in the South and East Asian Region.

2.The Member Countries (other than ASEAN) of RCEP are already having Free Trade Agreements with ASEAN group.

Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

The correct statement about the Regional Comprehensive Economic Partnership (RCEP) is:

Correct: The member countries of RCEP, other than the ASEAN nations, already have Free Trade Agreements (FTAs) with the ASEAN group. This includes countries like China, Japan, South Korea, Australia, and New Zealand.

However, the first statement is incorrect:

Incorrect: RCEP is not a collective effort of ASEAN and BIMSTEC nations. It is primarily an agreement between the 10 ASEAN member states and five of their FTA partners. BIMSTEC is a separate regional group and is not directly involved in the RCEP.

Therefore, only statement 2 is correct.