Asia Pacific nations including Thailand, China, Japan and South Korea signed the Regional Comprehensive Economic Partnership free-trade agreement on Nov 15, 2020. Japan’s parliament approved the pact on Wednesday. (Government House photo)
TOKYO: Japan’s parliament approved on Wednesday the world’s largest free trade deal, signed by 15 Asia-Pacific countries including China and the 10-member Association of Southeast Asian Nations, raising the possibility for the pact to enter into force later this year.
The Regional Comprehensive Economic Partnership (RCEP) will create a free trade zone covering about 30% of the world’s gross domestic product, trade and population. It will be Japan’s first trade deal involving both China and South Korea — its largest and third biggest trade partners.
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