Post by account_disabled on Mar 3, 2024 4:30:56 GMT
China and 14 other countries in the Asia Pacific have reached the agreement on trade. This agreement sends a strong signal against Trump's protectionism. Despite the trade conflict with the US, China has signed the world's largest free trade agreement with 14 Asia Pacific countries. After eight years of negotiations, the agreement was signed during a virtual summit of Southeast Asian countries and ASEAN states in Vietnam's capital, Hanoi. The "Regional Comprehensive Economic Partnership" or RCEP, as it is called, involves 2.2 billion people and almost a third of global economic output. The agreement lowers tariffs, defines common trade rules and thus facilitates supply routes.
The agreement Cambodia WhatsApp Number Data covers trade, services, investment, electronic commerce, telecommunications and copyright. Great success for the leadership in Beijing In addition to China, which is the second largest economy in the world, ten ASEAN countries have also signed this agreement: Vietnam, Singapore, Indonesia, Malaysia, Thailand, the Philippines, Burma, Brunei, Laos and Cambodia, Japan, Australia , South Korea and New Zealand. The free trade deal is a powerful signal at a time of the ongoing trade war with the US, which is considered a major success for the Communist leadership in Beijing.
Read also: Vucic supports Chinese claims on Taiwan – analysts see parallels with Kosovo USA/ Primary elections in Michigan, an important test for candidates Biden and Trump According to experts, the agreement will promote economic integration in the Asia Pacific region and will counter protectionist tendencies. Before the Corona crisis, RCEP countries accounted for 29 percent of global trade volume – slightly less than the EU, with 33 percent. RCEP's share will continue to grow, experts say. "RCEP will redefine the economic and strategic map of the Indo-Pacific," said Jeffrey Wilson of the Australian Strategic Policy Institute (ASPI). The free trade agreement will also give a boost to post-pandemic economic recovery efforts.
The agreement Cambodia WhatsApp Number Data covers trade, services, investment, electronic commerce, telecommunications and copyright. Great success for the leadership in Beijing In addition to China, which is the second largest economy in the world, ten ASEAN countries have also signed this agreement: Vietnam, Singapore, Indonesia, Malaysia, Thailand, the Philippines, Burma, Brunei, Laos and Cambodia, Japan, Australia , South Korea and New Zealand. The free trade deal is a powerful signal at a time of the ongoing trade war with the US, which is considered a major success for the Communist leadership in Beijing.
Read also: Vucic supports Chinese claims on Taiwan – analysts see parallels with Kosovo USA/ Primary elections in Michigan, an important test for candidates Biden and Trump According to experts, the agreement will promote economic integration in the Asia Pacific region and will counter protectionist tendencies. Before the Corona crisis, RCEP countries accounted for 29 percent of global trade volume – slightly less than the EU, with 33 percent. RCEP's share will continue to grow, experts say. "RCEP will redefine the economic and strategic map of the Indo-Pacific," said Jeffrey Wilson of the Australian Strategic Policy Institute (ASPI). The free trade agreement will also give a boost to post-pandemic economic recovery efforts.