The Regional Comprehensive Economic Partnership (RCEP) agreement, the world's largest free trade agreement, entered into force on Jan 1st 2022.
After the agreement takes effect, more than 90 percent of merchandise trade among members that have approved the agreement will eventually be subject to zero tariffs.
With optimized trade rules among signatories, streamlined procedures and wider opening-up in the sectors of services-trade and investment, the RCEP will bring tangible benefits to the member countries.
The RCEP includes 10 ASEAN members, China, Japan, the Republic of Korea, Australia and New Zealand.