In trade agreements, CEPA stands for which term?

• A. Comprehensive Economic Partnership Agreement
• B. Cross-border Economic Partnership Alliance
• C. Coordinated Economic Policy Arrangement
• D. Closer Economic Partnership Arrangement (CEPA)

Answer: (D)

The concept being tested is what CEPA stands for in trade contexts. CEPA is most commonly expanded as Closer Economic Partnership Arrangement, which signals a framework designed to bring two economies into closer, deeper integration than a standard free trade agreement. It often covers goods, services, investments, and rules of origin to foster stronger economic ties. While acronyms can sometimes be formed from other phrases like Comprehensive Economic Partnership Agreement, in most trade contexts CEPA is understood specifically as Closer Economic Partnership Arrangement, making it the best fit for this term.