The 15 participating countries of the RCEP account for around 30 per cent of the global population, global gross domestic product and 28 per cent of global trade, thus forming the world's biggest free trade bloc. - AP
GENEVA (Xinhua): The United Nations Conference on Trade and Development (UNCTAD) believes that the Regional Comprehensive Economic Partnership (RCEP) agreement signed among its 15 participating countries could give a significant boost to foreign direct investment in the region.
While the investment provisions in the agreement "mostly consolidate existing market access as contained in myriad bilateral agreements", the provisions related to market access and disciplines in trade, services and e-commerce "are highly relevant for regional value chains and market-seeking investment," the Geneva-based UN trade and development body said in its special issue of Investment Trends Monitor released late Sunday (Nov 15).
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