Print

Ten ASEAN nations together with China, Japan, South Korea, Australia, and New Zealand have signed the Regional Comprehensive Economic Partnership (RCEP) on Sunday, 15 November 2020 after nearly a decade of negotiation. 

The agreement promises tariff elimination on 92% of all goods traded between the 15 participating countries and 65% of services sectors will be fully opened with increased foreign investment. 

The agreement is expected the bolster the regional economic recovery from the COVID-19 impact, however, it now must be rectified before coming into effect.