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Nhac Nguyeun (AFP / Scanpix) nuotr.
The 15 countries of the Asia-Pacific region, including China, Japan and Piet Korj, signed on Sunday perhaps the world’s largest free trade agreement, after a year of years, covering a third of the population and GDP. worldwide.
Commitments with 15 countries, including Australia, China, Japan, New Zealand, South Korea and ten countries belonging to the Association of Southeast Asian Nations (ASEAN), sign the Regional Comprehensive Economic Partnership Agreement (RCEP) at the 37th Conference Virtual ASEAN in Vietnam. , reports Bloomberg and Financial Times.
The successful conclusion of the talks sends a strong message that ASEAN has a key role to play in the development of the international trade system, Vietnamese Prime Minister Nguyen Xuan Phuc said at the virtual signing ceremony.
According to the Vietnamese prime minister, the agreement will help strengthen supply chains, which have recently been hit by a new coronavirus pandemic, and help the country’s economies to recover faster.
Malaysia’s Minister of Trade and Industry pointed out that the agreement signed by the ASEAN countries does not speak of protectionism, but of multilateral free trade.
Some parts of the agreement will still have to sign to ratify the agreement before it can enter into force and enter into force. Singaporean representatives told reporters that the agreement should be ratified in the coming months.
Proponents of the trade deal emphasized that the deal covers $ 2.2 billion. per capita, and the GDP generated by the agreement is 26.2 trillion. AMERICAN DOLLAR. The trade tariffs lowered by the agreement are expected to help economies affected by the pandemic to recover more quickly and strengthen supply chains through harmonization of rules of origin.
It is true that the agreement is signed by 15 countries, not 16, as planned. India decided to withdraw from RCEP a year later, citing concerns about the protection of local industry.
The RCEP has long been viewed as the custodian of a US-backed agreement, also known as the Pacific Free Trade Agreement (NAFTA). After the 2016 office of the president of the United States, Donald Trump, withdrew from the TPP, weakening it. The TPP was then shortened and renamed the Comprehensive and Advanced Pacific Partnership Agreement (CPTPP), which was ratified by seven of the 11 signatories.
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