Asean Free Trade Agreement China

“The conclusion of the RCEP negotiations, the world`s largest free trade agreement, will send a strong message that will reaffirm ASEAN`s leading role in supporting the multilateral trading system, creating a new trade structure in the region, facilitating sustainable trade, reviving supply chains interrupted by COVID-19 and supporting recovery from the pandemic,” said Mr. Phuc. The deal is expected to help China, Japan and South Korea finally reach a trilateral free trade agreement after years of struggling to bridge their differences. The pact reduces tariffs, opens up the services sector and establishes common trade rules within the bloc. The agreement covers trade, services, investment, e-commerce, telecommunications and copyright. .