Japan approves RCEP agreement

2021-04-28 13:11:55Xinhua Editor : Li Yan ECNS App Download

Japan's parliament on Wednesday approved the world's largest free trade deal, signed by 15 Asia-Pacific countries including China and the 10 members of the Association of Southeast Asian Nations (ASEAN).

The Regional Comprehensive Economic Partnership (RCEP), signed in November 2020, groups ASEAN's member countries as well as China, Japan, South Korea, Australia and New Zealand.

It is the world's largest free trade zone across a wide assortment of indicators, and its 15 member states are home to 2.27 billion people, with a total gross domestic product of 26 trillion U.S. dollars and total exports of 5.2 trillion U.S. dollars.

The RCEP will come into effect 60 days after it is ratified by six of the ASEAN members and three of the other countries. 


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