The landmark Regional Comprehensive Economic Partnership trade agreement signed last year will give the Asia-Pacific region more weight in the global economic landscape and facilitate a higher standard of trade and investment to fuel growth worldwide, according to experts and business leaders on Monday.

The Regional Comprehensive Economic Partnership (RCEP), the world's largest trade deal signed by China and 14 other economies in November 2020, is facing challenges as comprehensive China-US competition has taken shape, officials and experts said at a seminar during the 2021 Boao Forum for Asia (BFA) on Monday.

The recently signed Regional Comprehensive Economic Partnership (RCEP) agreement, which forms the world’s largest trade bloc, is expected to become a driving force for the economic recovery of the Asia-Pacific region from the unprecedented impact of the Covid-19 pandemic. Signed on November 15, 2020, the pact’s 15 members include the 10 countries of ASEAN (Association of Southeast Asian Nations), Australia, China, Japan, the Republic of Korea (RoK), and New Zealand.

The Regional Comprehensive Economic Partnership (RCEP) sends a very powerful message of the region's commitment to open and liberal trade, an official of the International Monetary Fund (IMF) has said.

Jilin Province enjoys bustling trade with the 10-member Association of Southeast Asian Nations (ASEAN) and four other Asia-Pacific economies, all of whom signed the Regional Comprehensive Economic Partnership (RCEP) agreement together with China last year, creating the largest free trade bloc in the world.

The Regional Comprehensive Economic Partnership (RCEP) could bring substantial benefits to Vietnam’s exports thanks to easier rules of origin compared to other free trade agreements, mostly apparel, farm produce, and aquatic products, experts have said.

China is encouraging the early implementation of the Regional Comprehensive Economic Partnership (RCEP), and members of the Asia-Pacific trade pact aim for it to take effect from Jan. 1, 2022, Wang Shouwen, China’s vice commerce minister, said on Thursday.

The Regional Comprehensive Economic Partnership (RCEP) agreement will push the post-pandemic recovery of service sectors of its member countries and facilitate service trade, the Ministry of Commerce said Thursday.

The government has said the domestic economy could be boosted by about 2.7% as a result of the world’s largest free trade deal signed by 15 Asia-Pacific nations last year.

The Chinese government has ocially ratified the Regional Comprehensive Economic Partnership (RCEP) agreement, Minister of Commerce, Wang Wentao, announced on Monday, shedding light on the roll out of this colossal free trade pact