Trade potential

India should reconsider its Rcep decision

Growth in global trade is expected to remain subdued in the medium term, largely because of slower economic growth and increasing geopolitical fragmentation. But this is not stopping relatively small economies from finding new sources of growth. In India’s neighbourhood, Sri Lanka and Bangladesh, for instance, are reported to be considering joining the Regional Comprehensive Economic Partnership (Rcep). The President of Sri Lanka, Ranil Wickremesinghe, in fact, recently said his country had applied for membership in the trading bloc. Rcep comprises 15 nations from the Asia-Pacific, aiming to facilitate the movement of goods and encourage the member nations to look