RCEP will eliminate as much as 90 per cent of the tariffs on goods traded among its signatories over the next 20 years.
PHNOM PENH (Xinhua): The Regional Comprehensive Economic Partnership (RCEP), which is due to enter into force on Jan 1, 2022, will promote cross-border e-commerce and narrow the development gap between developed and developing countries, said Jack Lee, chief executive officer and founder of online market Smile Shop in Cambodia.
Signed on Nov. 15, 2020, the RCEP is a mega free trade pact between 10 Asean member states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam) and its free trade agreement partners, namely China, Japan, South Korea, Australia and New Zealand.
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