IPEF versus RCEP

GS Paper 2 Syllabus: International Relations   Source: The Business standards Context: In recent months, The US announced the formation of the Indo-Pacific Economic Framework (IPEF) at the Quadrilateral Security Dialogue (QUAD) Summit meeting in Tokyo. About the IPEF Members: Four QUAD countries, South Korea, New Zealand, Fiji and seven out of the 10 members of the Association of South-East Asian …

U.K. launches FTA negotiations with India:

GS Paper 2: Topics Covered: Bilateral Relations.   Context: The UK government on January 13, 2022, announced the launch of free trade agreement (FTA) negotiations with India. This is being described as a “golden opportunity” to put British businesses at the “front of the queue” of the Indian economy.   Significance: It offers huge benefits …

Regional Comprehensive Economic Partnership (RCEP) and India:

GS Paper 2: Topics Covered: Important International institutions, agencies and fora, their structure, mandate.   Context: South Korea has said that it regrets India’s absence from the Regional Comprehensive Economic Partnership (RCEP) and hopes to see New Delhi rejoin the agreement.   When did it come into force? The RCEP came into effect on January …

Regional Comprehensive Economic Partnership (RCEP):

GS Paper 2: Topics Covered: Important International institutions, agencies and fora, their structure, mandate.   Context: The RCEP will come into effect on January 1, 2022, marking the formation of the world’s largest free trade zone in terms of trade volume.   What is RCEP? It is a trade deal between the 10-member Association of …