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Problem 1: During 2020-21 two important free trade areas began operating: RCEP (Regional Comprehensive Economic Partnership) in Asia Pacific and AfCTA (African Continental Free Trade Area) in Africa. Which one of the following statements about these trading blocs is CORRECT?
Group of answer choices
Option 1: Two of the largest economies in RCEP are the countries of India and UAE (United Arab Emirates)
Option 2: ALL the African countries, with the exception of one, are either signatory or full members of AfCFTA
Option 3: The RCEP is NOT a sizable economic bloc in the global trading system either in terms of GDP or trade volume
Option 4: AfCFTA is not expected to do much for alleviating poverty or for fostering trade in the region
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