RCEP a positive signal for global trade

The 35th ASEAN meeting held in Bangkok declared on Monday that the Regional Comprehensive Economic Partnership negotiations had concluded after six years of negotiations.

The RCEP is a 16-member economic grouping, comprising 10 member states of the Association of Southeast Asian Nations and six of ASEAN's free trade agreement partners - Australia, China, India, Japan, New Zealand and the Republic of Korea.

India has decided to stay away from the RCEP, as some of its outstanding issues could not be resolved. Yet other RCEP members are expected to work with India in an effort to resolve these issues, and if it is satisfied that its concerns have been addressed, it could join the regional partnership at a later date.