標題: RCEP: Asia-Pacific countries form world's largest trading bloc
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註冊 2020-9-7
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RCEP: Asia-Pacific countries form world's largest trading bloc



Fifteen countries have formed the world's largest trading bloc, covering nearly a third of the global economy.


The Regional Comprehensive Economic Partnership (RCEP) is made up of 10 Southeast Asian countries, as well
as South Korea, China, Japan, Australia and New Zealand.



The pact is seen as an extension of China's influence in the region.


The deal excludes the US, which withdrew from a rival Asia-Pacific trade pact in 2017.


President Donald Trump pulled his country out of the Trans-Pacific Partnership (TPP) shortly after taking office.
The deal was to involve 12 countries and was supported by Mr Trump's predecessor Barack Obama as a way
to counter China's surging power in the region.



Negotiations over the RCEP began in 2012. The deal was signed on Sunday on the sidelines of a meeting of
the Association of Southeast Asian Nations (Asean), hosted by Vietnam.



"I am delighted to say that after eight years of hard work, as of today, we have officially brought RCEP
negotiations to a conclusion for signing," said Vietnam's Prime Minister Nguyen Xuan Phuc.



Officials took turns signing copies of the agreement and showing them off on camera at the virtual summit.


Leaders hope that the deal will help to spur recovery from the coronavirus pandemic.


"Under the current global circumstances, the fact the RCEP has been signed after eight years of negotiations
brings a ray of light and hope amid the clouds," said Chinese Premier Li Keqiang.



Mr Li described the agreement as "a victory of multilateralism and free trade".


India was also part of the negotiations, but it pulled out last year over concerns that lower tariffs could hurt
local producers.

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