Vietnam inks world’s largest trade pact RCEP
The Regional Comprehensive Economic Partnership (RCEP) was signed Sunday by leaders of 15 Asia Pacific countries that make up 29 percent of global GDP. The pact was signed online by leaders of 10 ASEAN member states as well as Australia, China, Japan, New Zealand and South Korea as part of the 37th ASEAN Summit chaired by Vietnam in Hanoi.
The RCEP has 20 chapters, covering areas and principles not seen in previous trade agreements between ASEAN and partner countries. It also includes chapters on intellectual property, e-commerce, competition, small and medium-sized enterprises (SMEs), economic and technical cooperation, and government procurement.
Phuong Anh, Hong Chau
