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Monumental Free-Trade Deal Signed by China and 14 Asia-Pacific Countries

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Finally, after 8 years of negotiations, the Regional Comprehensive Economic Partnership (RCEP) was signed via video link. The treaty seeks to harmonise rules between nations to ensure frictionless trading, in the hope of supporting economies as part of post-COVID recovery plans. The deal notably covers increasingly popular areas in our digital age, such as electronic commerce and intellectual property. Although some are sceptical of China’s participation in the treaty as it increases their global influence, the trade deal irrefutably strengthens relations between the parties and is set to have a significant positive financial impact across the board.

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