Association of Southeast Asian Nations or ASEAN, China, Japan, South Korea, Australia and New Zealand. The Regional Economic Partnership Agreement (RCEP) was signed today, the largest free trade area in the world without the United States.

Leaders of 15 countries presided over the signing ceremony. Outside the round of the 37th ASEAN Summit, organized a teleconference. Because ดาวน์โหลด joker of coronavirus disease 2019 or COVID-19 with Vietnam as a host Leaders of each country stand behind their own trade ministers, who take turns signing one by one and raising them in front of the camera.

Vietnam's Prime Minister Nguyen Xuan Phuc said the signatory country would quickly ratify it to take effect. And help recover the economy after the COVID-19 epidemic ARCEP holds 30 percent of the world economy, 30 percent of the population, and reaches 2,200 million consumers, the Ministry of Finance of China said. ARCEP will eliminate certain taxes within the group. It was both effective immediately and in effect within 10 years, and for the first time China and Japan achieved historic success because of their tax cuts.

Reuters noted that RCEP is the first free trade zone where three large Asian countries such as China, Japan and South Korea have signed up.There is no immediate detail on the type of product and the list of countries that will cut tariffs.

The United States pushed for the deal during the Barack Obama administration was withdrawn in 2017 by the Donald Trump administration, as well as the Trans-Pacific Partnership Agreement (TPP) Chamber of Commerce. The US expects Joe Biden to not immediately rejoin the TPP. Because it had to spend the first year to alleviate the problem of COVID-19

The economists of ING (ING), the Dutch multinational financial group, viewed that ARCEP will help China reduce its reliance on foreign markets and technology even more. After implementing this policy since relations with the United States are deeply fractured.