What is (RCEP) - Regional Comprehensive Economic Partnership
Date:2020-11-17Category:Tech & NewsView:369Comments:0
The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement (FTA), and it will create the world's largest trading bloc and mark a significant achievement for China. The 15 Asia-Pacific nations, representing nearly a third of the world's gross domestic product, signed the agreement on November 15, 2020 via tele-conference.
Backed by China, RCEP was envisaged as a way to bolster trading ties among nations across Asia-Pacific and promote trade and economic growth in the region. Initially, it includes the 10 member countries of the Association of Southeast Asian Nations (Asean) and five Asia-Pacific countries with whom Asean has existing FTAs:
Australia
China
Japan
New Zealand
South Korea
The RCEP is set to offer a good trade environment all over the world.
Tags:RCEPWhat is RCEPRegional Comprehensive Economic Partnership
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