Recently 6th Regional Comprehensive Economic Parternship(RCEP) was held in Singapore and attended by Union minister of commerce and Industry .....

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Recently 6th Regional Comprehensive Economic Parternship(RCEP) was held in Singapore and attended by Union minister of commerce and Industry ____

A	Suresh Prabhu
B	Sushma Swaraj
C	MJ Akbar
D	Nirmala Sitharaman
E	None

Explanation:

Detailed explanation-1: -The regional comprehensive economic partnership is a free trade agreement among the 10 Asian member states and its five trading partners, i.e, China, South Korea, Australia, Japan and New Zealand. It is an ASEAN centred proposal for a regional trade agreement. Also Read : Association of Southeast Asian Nations here.

Detailed explanation-2: -The RCEP Agreement entered into force on 1 January 2022 for ten participating countries (Australia, Brunei Darussalam, Cambodia, China, Japan, Lao PDR, New Zealand, Singapore, Thailand and Vietnam). It has also entered into force for South Korea (1 February), Myanmar (4 March) and Malaysia (18 March).

Detailed explanation-3: -On April 9, 2021, Singapore ratified the RCEP agreement and deposited its instrument of ratification with the Secretary-General of ASEAN, making it the first RCEP participating country to complete the official ratification process.

Detailed explanation-4: -RCEP entered into force on 1 January 2022 for ten original parties: Australia, Brunei Darussalam, Cambodia, China, Japan, Laos, New Zealand, Singapore, Thailand and Vietnam. RCEP then entered into force for the Republic of Korea on 1 February 2022, for Malaysia on 18 March 2022 and for Indonesia on 2 January 2023.

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