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India joins ambitious trade agreement with 16 nations

East Asian nations will on Tuesday launch negotiations for the ambitious Regional Comprehensive Economic Partnership, a mega trade agreement comprising 16 countries of the region, including India.
  
India will be associated with the major economic bloc with an aim to boost its engagement with the countries of the region, Press Trust of India (PTI) reported.

"Tomorrow (Tuesday), we will participate in the seventh East Asia Summit and launch RCEP negotiations," Prime Minister Manmohan Singh said here on Monday while addressing the India-Asean Summit.
  
He stated this as he invited greater investments from the South and East Asian nations, emphasising that enhanced cooperation will be crucial for stability and prosperity of the region.
  
Sanjay Singh, Secretary (East) in External Affairs Ministry, later said India will be involved in the Regional Comprehensive Economic Partnership (RCEP), an initiative of Asean and its six dialogue partners.
  
The initiative involving the 10 Asean members and its partners that includes Australia, China, Japan, South Korea New Zealand and India proposes an economic partnership which will form the world's largest economic bloc.
  
The trade ministers of EAS countries will be meeting shortly to take the initiative forward. Singapore was quick to welcome India's participation in RCEP.

At the ASEAN Summit, Singh said India attaches the "highest priority" to Asean integration and believes in Asean's centrality.
  
The Asean leaders said India and members of the 10-nation grouping should share and build progress, utilising their strengths.

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