Hossein Mola Abdollahi

Establishment of World’s Largest Free Trade Zone Titled “Regional Comprehensive Economic Partnership(RCEP)”

Following eight straight years, 15 Southeast Asian and Oceania countries including ASEAN members ( Malaysia, Indonesia, Singapore, Thailand, the Philippines, Vietnam, Brunei, Cambodia, Myanmar, and Laos) and another five Asian and Oceania states (China, Japan, South Korea, Australia and New Zealand) signed the agreement related to the world’s largest free trade zone named the “Regional Comprehensive Economic Partnership(RCEP)” at the virtual online summit of the said countries hosted by Vietnam on November 16, 2020. The agreement is to come into effect after 60 days since its adoption by at least 6 ASEAN member states plus three non-ASEAN members.
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