ASEAN Current Affairs

5th RCEP intersessional ministerial meeting held in Tokyo, Japan

The 5th Regional Comprehensive Economic Partnership (RCEP) intersessional ministerial meeting was held in Tokyo, Japan. It was first RCEP ministerial gathering to be held outside ASEAN countries. It was co-chaired by Singapore’s Minister of Trade and Industry Chan Chun Sing and his Japanese counterpart Hiroshige Seko.

Key Facts

During the meeting, ministers from member countries had in-depth discussions on issues such as trade, service, investment and rules at the meeting. They recognized importance of early conclusion o RCEP negotiations consistent. They also reaffirmed their resolve to work together and achieve agreement that will allow economies of different levels of development to actively participate in and benefit from open and inclusive regional economic integration.

Regional Comprehensive Economic Partnership (RCEP)

RCEP is a proposed proposed free trade agreement (FTA) or comprehensive regional economic integration agreement between the 10-ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam) and its six FTA partners (Australia, New Zealand, India, China, Japan and Korea).

Its negotiations were formally launched at 2012 ASEAN Summit in Cambodia. Till 2017, 16 RCEP member states accounted for population of 3.4 billion people with total GDP (in terms of PPP) of $49.5 trillion, approximately 38% of the world’s GDP (combined GDPs of China and India makes up more than half that amount) and 29% of world trade. RCEP is viewed as an alternative to the Trans-Pacific Partnership (TPP), a proposed trade agreement that includes several Asian and American nations but excludes China and India.

Month: Categories: International Current Affairs 2018

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ASEAN India Film Festival held in New Delhi

ASEAN India Film Festival was held in New Delhi from May 25 to 30, 2018. It was organised by Ministry of External Affairs (ASEAN Multilateral Division) as part of the series of events to commemorate 25 years of ASEAN and India relations.

Key Facts

The film festival was non-competitive and its tagline was ‘Friendship through Films’. Around 32 films from 11 countries were screened during six days festival. It was aimed to serve as vehicle of Cultural Exchange by providing access to new trends in filmmaking by providing platform for exchange of ideas, culture and experiences in the field of cinema.

The film festival provided platform for people from film industries of respective member countries to explore areas of cooperation in domain of cinema and cultural cooperation. It also celebrated excellence of cinema by exhibiting films from various ASEAN countries.

ASEAN

ASEAN is regional organisation that aims to promote intergovernmental cooperation and economic integration amongst its members. It consists of 10 member countries- Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. It came into existence on August 8, 1967, after ASEAN declaration (also known as Bangkok Declaration).

Month: Categories: India Current Affairs 2018

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