World's largest free trade agreement RCEP kicks in, cutting tariffs for 92% of goods traded among parties

The pact will cut tariffs for businesses for about 92 per cent of goods traded among signatory parties that have ratified the agreement. - The Straits Times/ANN

SINGAPORE, Jan 1, 2022 (The Straits Times/ANN): The world's largest trade pact kicked in on Saturday (Jan 1), cutting tariffs for businesses for about 92 per cent of goods traded among signatory parties that have ratified the agreement.

The 10 countries that have ratified the Regional Comprehensive Economic Partnership (RCEP) agreement are Australia, Brunei, Cambodia, China, Japan, Laos, New Zealand, Singapore, Thailand and Vietnam.