BANGKOK: Although India pulled out at the last minute, China and 14 other countries agreed in Bangkok this week on plans for what could become the world’s biggest trade agreement – the Regional Comprehensive Economic Partnership (RCEP).They aim to sign it next year to start freeing up trade between members that include the 10-member Association of South-East Asian Nations (Asean), Japan, Australia , South Korea and New Zealand.
What will RCEP do?Exact details have yet to be released, but it will progressively lower tariffs across many areas.
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