RCEP: Ship bound for shared future sets sail

Thanks to members’ strong collective will and persistent efforts for eight years, the RCEP agreement was finally sealed in November 2020. – AP

THE Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement to date, has officially entered into force on Jan 1, 2022, opening a new chapter of regional integration and common prosperity in the Asia-Pacific.

It rises as a modern, comprehensive, high-quality and mutually beneficial mega-free trade agreement binding 15 signatories, namely the 10 Asean member states, China, Japan, the Republic of Korea, Australia and New Zealand.