India pulled out of the agreement last year over concerns about cheap Chinese goods entering the country.
Global economy in fission during pandemic storm by China battered economy with China in vanguard of world economy gets trade tariff kicking from US. China back door entry rostrum to expand in trade RCEP well done dragon.
China, member states of the Association of Southeast Asian Nations (ASEAN), Japan, South Korea, Australia, and New Zealand on Sunday signed the Regional Comprehensive Economic Partnership (RCEP), the Chinese Finance Ministry said.
ASEAN member states include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
Pleased to sign the Regional Comprehensive Economic Partnership Agreement #RCEP on behalf of NZ today.
RCEP will be the largest FTA in the world, projected to add around $2 billion to our economy
The RCEP is a major free-trade agreement between 15 countries in the Asia-Pacific region which together account for almost one-third of the world’s population. The agreement was signed during an online ceremony on the sidelines of the annual ASEAN summit.