RCEP: 15 Asia-Pacific countries form world’s largest trading bloc

15 Asia Pacific countries have signed the world’s biggest free trade deal, led by China, on the sidelines of the 37th Association of Southeast Asian Nations (ASEAN) Summit. The deal called as ‘Regional Comprehensive Economic Partnership (RCEP)’, is the world’s largest trading bloc, comprising of 10 Southeast Asian countries, as well as South Korea, China, Japan, Australia and New Zealand.

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Members of the RCEP accounts for nearly a third of the world’s population and around 30% of global gross domestic product (GDP).

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