These agreements should, once completed and implemented, create the conditions for a new generation of global trade and investment rules. RCEP is not as comprehensive as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, another free trade agreement in the region that encompasses some of the same countries.  RCEP “does not set uniform employment and environmental standards and does not oblige countries to open up services and other vulnerable sectors of their economies.”  RCEP members represent nearly a third of the world`s population and account for nearly 30% of the world`s gross domestic product. The new free trade bloc will be more important than the agreement between the United States, Mexico and Canada and the European Union.  In 2007, the combined GDP of potential RCEP members exceeded the combined GDP of Trans-Pacific Partnership (TPP) members. It has been proposed that sustained economic growth, particularly in China and Indonesia, will contribute to the total GDP of initial RCEP membership exceeding $100 trillion by 2050, about double the size of projects in TPP economies.  On January 23, 2017, President Donald Trump signed a memorandum that removed the United States from the TPP, a measure intended to improve RCEP`s chances of success.  The Minister said we need to identify new areas and markets to improve our exports. He said Japan and India are taking interesting initiatives to improve economic engagement with Africa. He said we could look at how the Mauricie can be developed as a logistics hub. When RCEP was signed, Chinese Premier Li Keqiang declared it a “victory of multilateralism and free trade.”  Singaporean Prime Minister Lee Hsien Loong called it “a big step forward for our region” and a support for free trade and economic interdependence.  According to forecasts for 2020, the agreement is expected to increase the global economy by $186 billion.   Shri Prabhu added that the relationship between India and Mauritius is essential not only for promoting economic prosperity, but also for building bridges between the two nations.
Invest India will work with the Mauritian Investment Promotion Board to boost investment, the minister said. He said a high-level economic delegation would also visit the Mauricie region shortly to explore and consolidate business opportunities. Regarding the investment potential in Mauricie, he said that Indian companies never have to regret investing in Mauricie. In addition to the ease of activity, we also need to work on “Please of Doing Business,” said Shri Prabhu, noting that the Mauricie offers a very happy place to work and live. RCEP strives to conclude a modern and comprehensive trade agreement among members. The core of the negotiating agenda would be trade in goods and services, investment, economic and technical cooperation and dispute settlement. The partnership would be an effective instrument to support the spread of global production networks and reduce the inefficiency of several Asian trade agreements that currently exist. The review of trade agreements shall be carried out on the basis of the mutual agreement of trading partners and the request of national stakeholders. Two ECSC audits in India in Singapore were closed. The India-Bhutanese Trade and Transit Agreement was renewed in 2016, while the India-Nepal Trade Agreement was renewed in 2016. . .