RCEP to Create World’s Largest Free Trade Bloc

RCEP to Create World’s Largest Free Trade Bloc

Written by: PaxForex analytics dept - Wednesday, 06 November 2019 0 comments

The 35th ASEAN was concluded and progress has been made on the Regional Comprehensive Economic Partnership or RCEP for short. India decided not to join the free trade bloc as protectionism prevailed in one to the world’s most populous nations. The opening statement of the Chairman read “We, the Heads of State/Government of ASEAN Member States, gathered in Bangkok for the 35th ASEAN Summit on 2-3 November 2019. We reiterated the importance of continuity and sustainability in ASEAN Community-building efforts and commit to continue promoting partnership for sustainability, within ASEAN and in ASEAN’s relations with the international community, in order to realise a people-oriented, people-centred ASEAN Community that leaves no one behind and looks to the future.”