Steven Kuo Columnist

The regional comprehensive economic partnership (RCEP) was signed last weekend. It includes 10 countries of the Association of Southeast Asian Nations (Asean) — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, as well as Australia, China, Japan, New Zealand and South Korea.

Covering a third of global population as well as a third of global GDP, the RCEP is a huge step forward for Asian countries to create their own common market. With simplified rules for intra- and extra-regional trade, an extra $200bn is expected to be generated for the global economy over the next decade. ..

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