November 7, 2020, 03.35 AM

RCEP is a free trade agreement between the 10 ASEAN members together with China, Japan, South Korea, Australia, and New Zealand.

There has been a greater urgency to finalize the RCEP because of the coronavirus pandemic. The completion would protect the open market mechanism, improve the integration of the regional market, and support economic recovery stemming from the pandemic.

RCEP is one of the biggest free trade agreements in the world covering 47.4 percent of the global population, 32.2 percent of the global economy, 29.1 percent of global trade, and 32.5 percent of global investment.


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