The Regional Comprehensive Economic Partnership, involving India, ASEAN and
its six free trade agreement (FTA) partners, is expected to be completed this year,
an official of the Ministry of External Affairs (MEA) said on May 30.
"India is actively engaged in the negotiations for RCEP involving
ASEAN and its six FTA partners. It is in the concluding stage," said
Anurag Bhushan, joint secretary (ASEAN-multilateral), at a meeting in Kolkata.
The agreement will give India free trade access to the ASEAN partners
thereby increasing the country's exports, he added.
Bhushan said that once finalised, it will be the largest regional trading
arrangement in the world and the outcome is to be a balanced and comprehensive
agreement across the key pillars of goods, services and investments.
The ASEAN bloc is India's fourth largest trading partner accounting for
10.2 per cent of the total trade.