The largest trade agreement in the world moves to the Asia-Pacific.
The world's largest trading bloc recently signed and ratified excludes what used to be the world's largest power until just a few years ago: the US.
Just started 2022, the largest trade agreement in the world has been signed under the Regional Comprehensive Economic Partnership (RCEP), which is made up of 15 countries, where China heads the list, achieving agreements for the first time. in these matters in conjunction with nations such as Japan and South Korea, as well as with the powers of Australia and New Zealand. Joining them is the entire ASEAN bench, where Brunei, Cambodia, Laos, Singapore, Thailand and Vietnam currently also participate. South Korea would join the bloc in February and the rest of the states 60 days after the pact is ratified.
This significant trade agreement that excludes the US would represent 30% of the world economy, supported by the fact that it covers 30% of the world population, which ranges from 2.2 billion consumers. The largest agreements obtained refer to the reduction of trade rates, the strengthening of supply chains based on common rules related to information on the origin of products, as well as other aspects aimed at the systematization of regulatory standards for electronic commerce.