The signing of the RCEP will create the world's largest free trade bloc.
- The signing of the RCEP will create the world's largest free trade bloc.
- More importantly, East Asia, with a well-established production network and active regional trade, lacked an overall free trade agreement.
- In addition, the resurgence of unilateralism and trade protectionism over recent years have greatly disrupted regional trade in East Asia.
- Although the volume of bilateral trade exceeds $300 billion, the two countries had no free trade deal between each other.