Once ratified by three-fifths of the 15 signatories – namely six ASEAN countries and three non-ASEAN countries, the RCEP agreement will enter into force in 60 days.
The world's largest trade pact will reduce tariffs and harmonise trade rules, and Singapore and the region stand to gain from it by being more deeply plugged into global supply chains.
Amid the raging COVID-19 pandemic, Cambodia's economy in 2020 registered its slowest growth since 1994. However, the country's growth is projected to rebound 3.5 percent this year, thanks to its newly-signed bilateral free trade agreement with China and the Regional Comprehensive Economic Partnership (RCEP).
Cambodian mangoes produced at a small group of approved packaging factories have been cleared for export to China.
THE world economy is on track to pick up pace from the second quarter of this year, about half a year after a resurgence in Covid-19 infections set back recovery, according to April's Macroeconomic Review released on Wednesday.
Indonesia and the UK have completed a Joint Trade Review and inked a memorandum of understanding (MoU) on the formation of the Joint Economic and Trade Committee (JETCO).
The Philippines has reiterated its request for Australia to grant market access for fresh Cavendish bananas and to lift the anti-dumping measure imposed on the country’s canned pineapples.
Philippines and Chile, separated by thousands of miles, have started to strengthen economic relations with the signing of a memorandum of understanding for the establishment of a Joint Economic Cooperation (JEC) and to help each other’s membership bids in other regional free trade deals.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
