A new trade bloc covering a huge swathe of the Asia-Pacific region will play an important role in developing poorer economies and in post-pandemic stimulus, according to a report published on Monday by the UN Conference on Trade and Development (UNCTAD).
The book flags an important issue that Indian policy makers will need to seriously reflect on and formulate policy for a complex region where new players –- Turkey, Iran, China — are entering the fray with increasing implications for India’s own defence, security and connectivity.
Now the members of RCEP are 10-nation bloc ASEAN (Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar and Cambodia), China, Japan, South Korea, Australia and New Zealand.