Signing of the RCEP, the World’s Largest Free Trade Agreement
Signing of the RCEP, the World’s Largest Free Trade Agreement

Author(s): Damian Wnukowski
Subject(s): Politics, Supranational / Global Economy, Economic policy, International relations/trade
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: Global Economy; Trade; Agreement; RCEP; Signing;
Summary/Abstract: On 15 November, 15 countries from the Asia-Pacific region signed the Regional Comprehensive Economic Partnership (RCEP), which after ratification - possible in 2021 - will create the largest free trade area in the world. The RCEP is a response to increasing protectionism. It is also an expression of closer integration in the region, as well as a sign of the increasing strength of China and ASEAN in the region, and the weakening of U.S. influence. The agreement is a challenge for the EU, including to the possibility of less trade with RCEP countries as they seek to increase exchange between members of the agreement.

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