RCEP Agreement signed by15 countries creates the largest free trade zone in Asia
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The Regional Comprehensive Economic Partnership, RCEP Agreement which created the largest free trade zone in Asia, was signed Sunday November 15 2020, after eight years of negotiating, by 15 countries: China, Vietnam, Malaysia, Singapore, Brunei, Indonesia, Philippines, Thailand, Laos, Cambodia, Myanmar, South Korea, Japan, Australia and New Zeland. Members will draw up a separate plan letting India participate at any time should it choose to do so.
Overall, it will represent 30% in terms of gross domestic product and world trade and will affect more than two billion inhabitants.