15 Asia-Pacific economies close in on the world’s biggest trade deal


Source: gasiantimes.com gasiantimes.com

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Hanoi, Nov 13, 2020 – Fifteen Asia-Pacific economies are set to conclude talks on Sunday and sign what could become the world’s largest free trade agreement, covering nearly a third of the global population and about 30% of its global gross domestic product. The Regional Comprehensive Economic Partnership (RCEP), which could be approved at the end of a four-day Asean summit in Hanoi, will progressively lower tariffs and aims to counter protectionism, boost investment and allow freer movement of goods within the region. A US-China trade war and US President Donald Trump’s “America First” retreat from predecessor Barack Obama’s “pivot”...