Why world’s largest free-trade pact matters

The Regional Comprehensive Economic Partnership (RCEP) is an extraordinary achievement amid aggressive geopolitics, self-defeating trade wars and accelerating global pandemic. It is also a leap toward a better future.

LAST June, the ministers of RCEP countries underscored their determination to sign the free-trade agreement amid unprecedented headwinds in global trade, investment and supply chains. Following almost a decade of talks, 15 countries are poised to sign the world’s largest free-trade pact during the Association of Southeast Asian Nations (Asean) Summit.