Q. With reference to trade agreements, consider the following statements:
- The Trans-Pacific Partnership (TPP) was designed to enhance trade between the US and ASEAN.
- The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was created after the US left the TPP.
- India is a member of the Regional Comprehensive Economic Partnership (RCEP).
How many of the above statements are correct?
Answer:
Only one
Notes:
- The Trans-Pacific Partnership (TPP) was primarily designed to enhance trade between the US and ASEAN: This is incorrect. TPP aimed to enhance trade among Pacific Rim countries, not primarily between the US and ASEAN. It was a proposed trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States signed on 4 February 2016 in Auckland.
- The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was formed after the US withdrew from the original TPP: This is correct. CPTPP was established in 2018 after the US withdrawal.
- The Regional Comprehensive Economic Partnership (RCEP) includes India as a member country: This is incorrect. India opted out of RCEP negotiations and is not a member.
Thus, only one statement is correct.