RCEP trade pact which takes effect Jan 1 set to boost regional, global growth

The Asean secretary-general and leaders of the 15 RCEP member countries with their trade ministers after the pact was signed on 15 Nov 2020. - PHOTO: MINISTRY OF COMMUNICATIONS AND INFORMATION (MCI) via The Straits Times/ANN

SAN FRANCISCO (China Daily/ANN): The Regional Comprehensive Economic Partnership (RCEP) agreement, which will take effect on Saturday (Jan 1), is expected to significantly boost the regional and global economies and offer lessons for international cooperation.

"The RCEP is a huge, potentially powerful agreement among rich and poor countries that complements each other's strengths," Prof Peter Petri, who specialises in international finance at Brandeis University in the United States, told China Daily.