3 years, 3 months ago

RCEP comes into effect on first day of 2022

The Regional Comprehensive Economic Partnership agreement, the world's largest free trade agreement, entered into force on Saturday. After the agreement takes effect, more than 90 percent of merchandise trade among members that have approved the agreement will eventually be subject to zero tariffs. With optimized trade rules among signatories, streamlined procedures and wider opening-up in the sectors of services-trade and investment, the RECP will bring tangible benefits to the member countries. China will fully implement the obligations of the RCEP agreement and guide local governments, industries and enterprises to better seize the opening-up opportunities, according to the Ministry of Commerce.

China Daily

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