Asia’s Regional Comprehensive Economic Partnership Will Reshape Trade

31 May 2021


After eight years of negotiations, 15 Asian countries signed the world’s largest free trade agreement — the Regional Comprehensive Economic Partnership (RCEP) — on November 15, 2020.

Consisting of the Association of Southeast Asian Nations’ (ASEAN) 10 member states, China, Japan, South Korea, Australia, and New Zealand, RCEP aims to establish a comprehensive economic partnership guided by a common set of rules and standards, lowered trade barriers, streamlined processes and improved market access.

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