SINGAPORE — Fifteen countries spanning the Asia-Pacific region on Sunday signed the Regional Comprehensive Economic Partnership agreement, creating a vast free trade framework that promises to help speed up the members’ post-pandemic growth.
RCEP, which also sets common rules and standards for a range of economic activity, will come into effect once the participants ratify the pact.
The 15 countries include China, Japan, South Korea, Australia, and New Zealand, along with the 10 members of the Association of Southeast Asian Nations. Together, they account for around 30% of the world’s gross domestic product and population. Read more.