Asia and the Pacific seal the largest trade agreement in the world
At least 15 nations will enter what will be known from now on as the Comprehensive Regional Economic Alliance
This Sunday, leaders of several countries that make up the Asia-Pacific bloc such as China, Japan, Australia, New Zealand, among others, signed the largest trade agreement in the world.
Specifically, this was called the Comprehensive Regional Economic Alliance (RCEP), whose main objective is to reduce customs fees and open its markets and services to others.
This represents a “momentous” integration effort between nations as diverse as those that are part of this alliance.
But the most important thing is that it reflects the leadership of China in the region, the most populous and dynamic in the world, in the face of the withdrawal that the US has led under the four-year term of the defeated President Trump.
The agreement will also be a bridge to extend China’s international investments within its new silk road.
This agreement, despite the fact that it will allow integration between 15 nations and will raise a significant number of barriers, does not plan to touch on the issue of environmental policies or labor.
K. Tovar
Source: ABC
