6th RCEP Ministerial Meeting Begins In Singapore

Union Minister of Commerce& Industry and Civil Aviation, Suresh Prabhu, is leading the Indian delegation for the 6th RCEP Trade Ministers’ Meeting which has begun in Singapore. 
The Minister will participate in the meeting consisting of 10 ASEAN countries and six ASEAN FTA partners namely, India, China, Japan, Korea, Australia and New Zealand. 
Source- Press Information Bureau (PIB)

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • ASEAN stands for Association of Southeast Asian Nations.
  • ASEAN is amongst the fastest growing markets in the world and presents substantial trade and investments opportunities for India. 
  • ASEAN has emerged as the second largest trade partner of India in 2017-18 with bilateral trade valued at US$ 81.33 billion, comprising 10.58% of India’s total trade with the world.