By Sarah Keane • 15 November 2020 • 18:03
World’s biggest trading bloc formed as 15 countries come together
China and fourteen other nations have agreed to set up the new trading bloc which will account for almost one third of all global economic activity.
The Regional Comprehensive Economic Partnership (RCEP) was signed virtually on Sunday, November 15 in Vietnam at the annual 10-nation Association of South East Asian Nations (ASEAN). The Association has welcomed China, Japan, South Korea, New Zealand and Australia to the agreement.
The host country’s Prime Minister, Nguyen Xuan Phuc, said: “The largest free trade agreement in the world will send a strong message that affirms ASEAN’s leading role in supporting the multi-lateral trading system, revitalising the supply chains disrupted by Covid-19 and assisting the post-pandemic recovery.”
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Former teacher and health services manager with a Degree in English, Sarah moved to Spain from Southern Ireland with her husband, who runs his own car rental business, in 2019. She is now enjoying a completely different pace and quality of life on the Costa Blanca South, with wonderful Spanish and expat friends in Cabo Roig. Sarah began working with Euro Weekly News in 2020 and loves nothing more than bringing all the latest national and international news to her local community.
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