The Regional Comprehensive Economic Partnership agreement, which took effect on Jan 1, is considered the world's largest free trade agreement in terms of economic power. The total population of its 15 member countries -the 10 member states of the Association of Southeast Asian Nations and China, Japan, South Korea, Australia and New Zealand- also covers roughly 30 percent of the world's population.
The agreement is expected to provide a strong boost to international trade and investment and contribute to the global economic recovery from the pandemic. It is also expected to bring growth to existing trade arrangements.
Chinese exporters in the Guangxi Zhuang autonomous region said they look forward to business opportunities emerging from the Regional Comprehensive Economic Partnership pact, an agreement expected to help companies lower tariffs and raise their competitiveness.