On 15 November 2020 fifteen countries from the Asia-Pacific region signed an agreement which represents the world’s largest trading bloc through their Regional Comprehensive Economic Partnership, or “RCEP”.
RCEP comprises the 10 Association of Southeast Asian Nations (ASEAN) member countries as well as China, Japan, South Korea, Australia and New Zealand. RCEP will enter into force 60 days after a minimum of six ASEAN members and three non-ASEAN members have ratified the deal, which is expected sometime next year but may take longer.
