On November 15, 2020, fifteen Asia-Pacific states signed the Regional Comprehensive Economic Partnership, after nearly a decade of negotiations. According to the agreement's preamble, the parties aim to "broaden and deepen economic integration in the region," "create new employment opportunities, raise living standards, and improve the general welfare of their peoples," and "establish clear and mutually advantageous rules to facilitate trade and investment, including participation in regional and global supply chains." The agreement establishes a partnership and free trade area and sets out a number of provisions on subjects including trade in goods, trade in services, temporary movement of natural persons, investment, intellectual property, competition, and dispute settlement. However, as JURIST reports, India pulled out of negotiations "at the last minute," citing "'concerns over its domestic industry and the potential of widening trade deficits with member countries, especially China.'" Due to its population and industry, India's non-participation in the Partnership is significant. Therefore, the  Partnership members remain hopeful that India will join the Partnership in the future.