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What is (RCEP) - Regional Comprehensive Economic Partnership

Date:2020-11-17Category:Tech & NewsView:102Comments:0


Guide: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, representin

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:

  1. Australia

  2. China

  3. Japan

  4. New Zealand

  5. 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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