RCEP gives extra leverage to post-pandemic economic recovery

The Regional Comprehensive Economic Partnership (RCEP), which came into force as of January 1, is expected to provide a fresh impetus to enhancing trade activities and boosting economic recovery in the post-pandemic period.

The deal was signed between 10 members of the bloc and five partners of China, Japan, the Republic of Korea, Australia, and New Zealand on November 15, 2020, during the 37th ASEAN Summit chaired by Vietnam. It consists of four free trade agreements that ASEAN has signed with partners to create a new free trade zone.

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