Singapore eyes year-end to conclude world’s biggest free-trade deal
Singapore — Singapore’s prime minister hopes to complete a massive China-backed regional trade pact by the end of the year. The 16-nation Regional Comprehensive Economic Partnership (RCEP) has taken centre stage as Washington embarks on a unilateral, protectionist agenda. RCEP is poised to become the largest free-trade agreement in the world, covering about half of its population. It notably excludes the US, which had been leading another regional trade pact — the Trans-Pacific Partnership (TPP) — until US President Donald Trump abruptly abandoned it last year. Singapore Prime Minister Lee Hsien Loong said Southeast Asian countries were "redoubling their efforts to conclude the RCEP … by the end of the year". The planned RCEP pact would group the 10 members of the Association of Southeast Asian Nations (Asean) plus China, India, Japan, South Korea, Australia and New Zealand. In his comments, which came at the start of a meeting of Asean foreign ministers in Singapore, Lee also warne...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.