World’s largest free-trade pact comes into force
World’s largest free-trade pact comes into force
Malaysia’s Ministry of International Trade and Industry announced on Friday that the Regional Comprehensive Economic Partnership (RCEP) has come into force in the country.
The free-trade agreement encompasses an estimated 30% of both the world’s population and of its global GDP.
According to the ministry, Malaysia is expected to be the largest beneficiary of the China-backed free-trade deal among Southeast Asian countries in terms of export gains, with a projected $200-million increase
