RCEP: World's biggest trade pact takes effect

By Philippine News Agency

Jan 03, 2022 12:13 am

THE world's largest free trade pact forged by 15 Asia-Pacific countries entered into force on Saturday to provide a tailwind for the region's post-pandemic recovery and a catalyst for global economic progress, bringing a ray of hope.

The Regional Comprehensive Economic Partnership (RCEP) agreement groups 10 Association of Southeast Asian Nations (Asean) countries, as well as China, Japan, South Korea, Australia, and New Zealand, covering nearly a third of the world's population and gross domestic product.

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