Regional Comprehensive Economic Partnership (RCEP) | UPSC by Safiya Jahan • November 24, 2020 Hello dear brothers and sisters, today we are going to discuss about the important topic RCEP. Please try again. On Sunday, 15 countries solidified their participation in the, India currently has agreements with members like the, IASbhai Daily Editorial Hunt | 16th Feb EDITORIAL HUNT #323 :“Farmers and Taxation in India | UPSC” R.…, The next G20 Presidency will be hosted by India. Source: The Hindu. ... (RCEP) does not augur well for its future engagements in the region. It is different from TPP & CPTPPRegional Comprehensive Economic Partnership (RCEP) On 15 November 2020, fifteen Asian Pacific countries including China, Japan and South Korea signed the biggest trade deal at the 37th Association of Southeast Asian Nations (ASEAN) Summit.It is the world’s largest regional free-trade agreement, encompassing about a third of the world’s population and gross domestic product. Context: 15 countries came together and signed the Regional Comprehensive Economic Partnership (RCEP) on the sidelines of an online ASEAN summit hosted by Vietnam on 15 th Nov 2020. India has trade deficits with 11 of the 15 RCEP countries. [MINDMAP] – Regional Comprehensive Economic Partnership (RCEP) Regional Comprehensive Economic Partnership (RCEP) [PDF] Join our Official Telegram Channel HERE for Motivation and Fast Updates Subscribe to our YouTube Channel HERE … ‘Raise private bank promoter cap to 26%’ Topics like SAARC, ASEAN,RCEP which need not be repeated for UPSC 2020 Aspirants are covered for UPSC 2021 Aspirants. RCEP: The Regional Comprehensive Economic Partnership (RCEP) ... UPSC Economics, UPSC Current Affairs, UPSC CSE 2020, BALIYANS SUMMARY RSTV BIGPICTURE GIST , Insight Ias Current Affairs. IASbhai .... Shaping Aspirations.........! “What we fear doing most is usually what we most need to do.” – Tim Ferriss, India faces an uphill task in maintaining its viability against highly competitive countries. Manifest pedagogy: Controversy with respect to India joining RCEP and concerns related to a surge in imports especially of dairy products prompted the government to withdraw temporarily from negotiations. Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement (FTA) between the countries of Association of South East Asian Nations (ASEAN) namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam and the six states with which ASEAN … Get free study material, pdf for IAS and various state PCS exams. 29 Oct 2020: UPSC Exam Comprehensive News Analysis. 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RCEP is considered as an alternative to Trans-Pacific Partnership (TPP). You can also find us on Twitter and Facebook. The clause allowing India to join at a later date is symbolic and shows China’s desire to build economic bridges with the region’s third-largest economy. 12/03/2020: Fictitious Fee : FictFee-CSP-2020-Engl.pdf: 11/03/2020: Press Release : press_release_april_15_2020.pdf: 08/05/2020: Important Notice : CSP-IFS-2020-Notice-centre-choice-Engl.pdf: 01/07/2020: Notice : PNote-CSP-20-Engl.pdf: 09/09/2020: e - Admit Card : 01/09/2020… 45 calibre/155 mm 'Dhanush' has undergone several tests under all conditions and has now recieved bulk production clearance with 114 such guns to be produced for Indian Army. The India-Nepal Treaty of Trade was extended in 2016. On March 8, 2021, The Chinese government has officially ratified the Regional Comprehensive Economic Partnership (RCEP) agreement. RCEP Agreement was signed virtually on November 15, 2020, by 15 nations in the ASEAN Summit. Examine -(GS 3). Comment -(GS 2), It is true that India is not a big exporter on the global scale with respect to RCEP nations. RCEP also lacked clear assurance over market access issues in countries such as China and non-tariff barriers on Indian companies. July 1, 2020 This File is Prepared keeping Prelims 2021 in Mind. Importance level : High Dhanush is the first long range artillery gun to be produced in India. ASEAN hits historic milestone with signing of RCEP JAKARTA, 15 NOVEMBER 2020– It was a momentous day as Leaders of ASEAN Member States, Australia, China, Japan, Republic of Korea and November 26, 2020 November 26, 2020 India’s trade deficit with RCEP countries stood at $105 billion, out of which China alone accounted for $52 billion. There was an error while trying to send your request. The 30th Anniversary 2020 Human Development Report is the latest in the series of global Human Development Reports published by the United Nations Development Programme (UNDP) since 1990 as independent and analytically and empirically grounded discussions of major development issues, trends and … ... Two of India’s proposals—an RCEP business travel card and an RCEP service supplier card—failed to find favour with a majority of the bloc’s members. RCEP 2020 : World's Biggest Trade Deal | UPSC : China is the key member of RCEP, giving it upper hand in influencing trade in Asia-Pacific. Discuss -(GS 2 ), IASbhai THE DAILY EDITORIAL HUNT: 28th NOVEMBER     EDITORIAL 7 : “Stubble burning is not the only…, Riots essentially result from failure to maintain public order. The pact looks to drop tariffs and duties between the members so that goods and services can flow freely between them. India would have to write expressing “intention” to join the organisation to restart negotiations for membership. At present, India ships 20 percent of all its exports to the RCEP countries and receives 35 percent of all imports from them. That challenge will shift to President-elect Joe Biden if, as expected, he’s officially named the winner of the Nov. 3 election. India will have to re-apply for membership. Background: The Regional Comprehensive Economic Partnership (RCEP) was signed on 15.11.2020 by 15 countries led by China, Japan, South Korea, Australia, New Zealand and the 10-state ASEAN grouping. The draft RCEP agreement did not fully reflect the basic spirit and the agreed guiding principles of RCEP and did not address satisfactorily India’s outstanding issues and concerns. Japan is looking for the pact to be a catalyst for its post-coronavirus economy. The Regional Comprehensive Economic Partnership is a free trade agreement originally devised to consist of 16 countries across the Asia-Pacific region. Fifteen Asian countries sign world’s biggest trade deal; India pulled out last year. Best current affairs & GK article on RCEP ... On November 15, 2020, China and fourteen other countries signed a deal to set up the world largest trading bloc. Online preparation guide for CIVIL SERVICES EXAMINATION. An “honest” self-assessment of this trade and economic performance is necessary.Comment -(GS 3), There was a much needed banking sector reform needed at large but the recommendation of corporate-owned banks is neither ‘big bang’ nor risk-free. The proposed FTA aims … must read articles : data is the new currency in 2020. the journey to herd immunity. National Statistics Day | UPSC : is celebrated on the birth anniversary of Prof. P C Mahalanobis # father of Indian Statistics . This topic has been covered in the 18th November 2020 Comprehensive News Analysis. Please try again. RCEP, aimed to boost the South Asian trade and economy, by standing out globally, given the kind of issues these countries have compared to the other Western countries. Context: India’s opting out of RCEP appears more debatable in terms of its economic rationale. For PRELIMS understand the clauses of the deal , how the deal comes into action and benefits . What is the RCEP? antitrust case against google -2020. air pollution in india and 11 remedies. The post-pandemic global economy have often predicted that China’s appeal as a business destination would fade, losing favour as the global manufacturing hub. All the RCEP participating countries, except for India, have “concluded” text-based negotiations for all 20 chapters of the proposed deal, as well as their market access issues — and they are expected to be ready to ink the pact in 2020. IASbhai will use the information you provide on this form to be in touch with you and to provide updates and marketing. RIGHT TO WORK AND A LABOUR SURPLUS ECONOMY. The latest and 13 th round of RCEP negotiations had taken place in New Zealand from 12 to 18 June 2016. It also wanted RCEP to exclude most-favoured nation (MFN) obligations from the investment chapter. TABLE OF CONTENTS. It marks a significant achievement for China as it battles the U.S. for influence and economic supremacy in the Asia-Pacific region. Current Affairs, GK & News related notes on RCEP topic for UPSC, Civil Services, Banking and other Competitive Examinations of India. The RCEP negotiation process had started in 2013 and is unlikely to be concluded by the end of 2016. You have successfully subscribed to the newsletter. Risk to domestic business, industry, and agriculture and concerns about vast trade deficit made the Ministry of external affairs (MEA) keep India off the RCEP Agreement. Regional Comprehensive Economic Partnership RCEP is the proposed mega-regional Free Trade Agreement (FTA) between 16 Asia-Pacific countries. Context: 15 countries came together and signed the Regional Comprehensive Economic Partnership (RCEP) on the sidelines of an online ASEAN summit hosted by Vietnam on 15 th Nov 2020. 29 Oct 2020 CNA:-Download PDF Here. Get latest IAS, PCS news about notification, eligibility, syllabus, salary, previous year papers, cut off. It has been developed by Ordinance Factory Board and manufactured by Jabalpur based Gun Carriage Factory. • Sri Lanka’s State Minister of Regional Co-operation has asserted that the country is pro-trade and will explore all multilateral arrangements, including the RCEP. Issues of RCEP are important both from prelims and mains perspective. We will surely cover this again in our Editorial Hunts . The leaders and trade ministers of 15 Regional Comprehensive Economic Partnership (RCEP) countries pose for a virtual group photo in Hanoi, Vietnam on Sunday, Nov. 15, 2020. New Delhi has highlighted the necessity for peace and stability in the region but maintained silence regarding RCEP. SOURCES : IMF : RCEP: World’s biggest trade deal. On Sunday, Nov. 15, 15 Asian nations representing nearly a third of the global economy signed the Regional Comprehensive Economic Partnership (RCEP), forming the … india-pakistan relations 2020. india-canada relations 2020. There is a huge gap between India and China on trade with almost every Indo-Pacific country. Name of Examination: Central Armed Police Forces (ACs) Examination, 2020; Date of Notification 18/08/2020; Date of Commencement of Examination: 20/12/2020: Duration of Examination: One Day : Last Date for Receipt of Applications: 07/09/2020 - 6:00pm: Date of Upload : 18/08/2020: Download Notification : Notice (693.76 KB) There was an error while trying to send your request. You have successfully subscribed to the newsletter. IASbhai .... Shaping Aspirations.........! Backed by China, RCEP was envisaged as a way to bolster trading ties among nations across Asia-Pacific and promote trade and economic growth in the region. India currently has agreements with members like the ASEAN bloc, South Korea and Japan. Digital health mission ready for nationwide roll-out soon INTERNATIONAL RELATIONS 1. However, India is hoping for a deal more suitable for its needs. Road to Peace in Nagaland : Fresh hurdles have emerged in the road to peace in Nagaland. Negotiations for RCEP had stated in 2012 in Cambodia and currently are in fourth year. On Sunday, 15 countries solidified their participation in the Regional Comprehensive Economic Partnership (RCEP). THE DEALA minimum of six Asean countries in addition to three non-Asean partners must ratify RCEP for it to come into force. The mega trade bloc is a landmark initiative, which is expected to, Among the benefits of the agreement include a, The clause allowing India to join at a later date is symbolic and shows, REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP (RCEP), Backed by China, RCEP was envisaged as a way to, India had also planned to join the deal but, Central Vista Project | UPSC       HEADLINES: Central vista Project       WHY IN NEWS:…, U.S Strategic Framework for the Indo-Pacific       HEADLINES: A strong India would act as ‘counterbalance’ to…, Challenges for NEP 2020 : The proposal to make the mother tongue the medium of instruction till Class 5, which has stirred up the fiercest debates. Also keep an eye on the counterparts like TPP etc. If you liked this article, then please subscribe to our YouTube Channel for Daily Current Affairs , Editorial Analysis & Answer writing video tutorials. It includes India, China, Japan, South Korea, Australia, New Zealand and the 10-member ASEAN bloc. Its decision was to safeguard the interests of industries like agriculture and dairy and to give an advantage to the country’s services sector. Let us dive in ! It also makes up 29% of world trade and 26% of world FDI inflows. Day: December 2, 2020. Indian Sign Language | UPSC : Indian Sign Language denotes Unity in Diversity which is explained through Hands and understood through Eyes. 15 Consequences | UPSC, World Summit on the Information Society Forum 2021 | UPSC, 1st Voluntary Guidelines to End Hunger – WFS | UPSC, National Marine Turtle Action Plan 2021 | UPSC, National Baseline Geoscience Data Generation Programmes 2020-2024 | UPSC, Shramshakti- Migrant Workers Portal | UPSC, Quantum Computing Applications Lab-AWS | UPSC, Eight rounds of negotiations have been completed for the review of the. The RCEP signing comes as Southeast Asian nations experience, The Regional Comprehensive Economic Partnership (RCEP) is a, The 15 Asia-Pacific nations poised to sign RCEP in 2020 account for nearly a, China is the key member of RCEP, which will give it the upper hand in influencing the. It also includes simplified customs procedures while at least 65% of services sectors will be fully open with increased foreign shareholding limits. The mega trade bloc is a landmark initiative, which is expected to boost commerce among the member-countries spread across the Asia-Pacific region. 21 Nov 2020: UPSC Exam Comprehensive News Analysis TABLE OF CONTENTS A. GS 1 Related B. GS 2 Related POLITY AND GOVERNANCE 1. Among the benefits of the agreement include a tariff elimination of at least 92% on traded goods among participating countries. Still uncertain is how the Biden team will approach trade deals and whether it tries to re-enter the 11-nation TPP. India will also have to consider if the new U.S. administration revives the Trans-Pacific Partnership trade deal in some form and brings in all of its partners in the region. RCEP 2020 : World’s Biggest Trade Deal | UPSC, UPSC Mains General Studies Paper 2 for 2021 Preparation, three non-Asean partners must ratify RCEP. The purpose of RCEP was to make it easier for products and services of each of these countries to be available across this region. RCEP will also reduce the overlapping between Asian FTAs. The negotiations to sign the deal began in 2011. IASToppers.com is the premier, authenticated and the fastest growing online educational portal exclusively dedicated to aspirants preparing for UPSC Civil … Australia to temporarily host ISRO satellite tracking facilities C. GS 3 Related ECONOMY 1. ... From UPSC perspective, the following things are important : Prelims level : RCEP countries. Non-Naga groups are more suspicious . You don’t get into FTAs merely to provide your market to your partner countries. In financial year 2019, India registered a trade deficit with 11 out of the 16 RCEP countries. Major issues that were unresolved during RCEP negotiations were related to the exposure that India would have to China. livelihoods of Indians, particularly the most vulnerable. The RCEP member countries represent 49% of the world’s population and account for 30% of world GDP. You can also find us on Twitter and Facebook. IASbhai will use the information you provide on this form to be in touch with you and to provide updates and marketing. India had earlier raised concerns about fundamental issues and moreover, it has a trade deficit with a lot of the RCEP signatories. It created one of the world’s largest trading blocs. UPSC … The Regional Comprehensive Economic Partnership (RCEP / ˈ ɑː r s ɛ p / AR-sep) is a free trade agreement between the Asia-Pacific nations of Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, South Korea, Thailand, and Vietnam. 16 POINTS – RESTATEMENT OF VALUES OF JUDICIAL LIFE, COLLECTIVE SECURITY TREATY ORGANISATION (CSTO), INDIA’S AFGHAN POLICY AND RELATIONS [2020]. THE BIG PICTURE: INDIA'S VISION FOR INDO- PACIFIC - big-picture big-picture. It is indicating India’s difficulty in welcoming the, India’s ties with China in recent months have been disturbed by the, In the meantime, India has also held maritime exercise with Japan, Australia and the United States for the “, Experts are interpreting the beginning of RCEP as a major development that will help China and, The agreement means a lot for China as it will give it access to Japanese and South Korean markets in a big way, as the three countries, Earlier New Delhi pulled out over concerns about how, Negotiators pushed the deal across the finish line after India surprised participants late last year by. According to estimates if the RCEP is implemented it would bring large income gains to not only Asia but the world economy. Saudi Arabia has successfully used this platform to eradicate poverty and pandemic . sources: the hindu editorial hunt | rcep – strategic importance in 2020 | upsc.