A new trade bloc covering a huge swathe of the Asia-Pacific region will play an important role in developing poorer economies and in post-pandemic stimulus, according to a report published on Monday by the UN Conference on Trade and Development (UNCTAD).
The Regional Comprehensive Economic Partnership agreement (RCEP) was signed on Sunday by 15 countries including China, Japan, Australia, Vietnam and South Korea, jointly covering a total population of more than 2.3 billion people – five times the size of the European Union.
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