What Happened: Two-thirds of the negotiation process on market access issues for the proposed Regional Comprehensive Economic Partnership (RCEP) have been completed, Business Today reported Aug. 5.
Why It Matters: The RCEP is the world's largest proposed free trade zone by population, although negotiations have progressed slowly amid India's concerns that the agreement would widen its trade deficit with China.
Background: The partnership is a proposed free trade zone between the 10-member Association of Southeast Asian Nations and six partner countries — India, China, Australia, Japan, South Korea and New Zealand.
- Asian Free Trade Proposal Is Broad in Scope, Narrow in Focus (March 25, 2019)
- Trade Profile: ASEAN Pulls the Threads Together (Nov. 20, 2017)
- As the TPP Founders, Southeast Asia Hedges Its Bets (Feb. 21, 2017)