RCEP | India & Neighbourhood

GS Paper - 3 | GS Paper - 2 | Growth & Development | Groupings & Agreements Involving India and/or Affecting India's Interests

Deadlock in RCEP Trade Negotiations  

• RCEP is a proposed regional economic integration agreement among the 10 ASEAN countries and its six free-trade agreement partners—Australia, New Zealand, Japan, China, South Korea and India.
• Once implemented, it would result in one of the largest free trade bloc accounting for 45% of the world's population, and a combined GDP of about $21.3 trillion and 40% of the world trade.

* SAGAR MAITRI Mission - The prime objectives of the SAGAR MAITRI Mission by DRDO are data collection from the entire North Indian Ocean, focussing on the Andaman Sea and adjoining seas and establishing a long-term collaboration with eight IOR countries in the field of ocean research and development.

INS – Sagardhwani embarked on 2 month long SAGAR MAITRI mission 2.

* Cross border 69km petroleum products pipeline of 2 mn metric ton per annum from motihari, India to amlekhgunj in Nepal.

It is south Asia 1st cross border petroleum products pipeline.

* India-Korea logistics pact to use each other's naval facility.

* BRICS founded in 2006 first coined by British minister Neil in 2001 as BRIC as global emerging market- recent meet held in Brazil n First BRIC was held in Russia in 2009. South Africa added in 2010.

It accounts for 42% of world population, 23% global GDP, 17% world trade , 26.6% world land area, 13.24% of World bank voting power.

* 6th ASEAN Defense minister meeting plus (ADMM+) include ASEAN with other 8 member countries (India, China, Japan, Australia, new zealand, South Korea, USA n Russia)

First ADMM+ was held in Hannoi, Vietnam in 2010 which was decided in 2nd ADMM meet in 2007 in Singapore.

ADMM plus follows the ADMM+ chairmanship and currently chaired by Thailand.

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