Trade tonic
Trade tonic
Two mega-deals will help regional economies recover more quickly from the pandemic and reap major gains in the long term. By Nareerat Wiriyapong
published :
25 Jan 2021 at 12:30
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Two mega free-trade agreements (FTAs) will contribute immediately to the recovery of Southeast Asian countries because they broaden and deepen free trade with key partners at a time when the region is dealing with the economic fallout of the coronavirus pandemic, leading analysts say.
Signed at the Asean Summit hosted by Hanoi on Nov 15 last year, the Regional Comprehensive Economic Partnership (RCEP) is seen as a positive affirmation of the region's willingness to maintain open trade flows. The Asia-wide pact involves 10 Asean nations, the so-called Plus Three economies -- China, Japan and South Korea -- and Australia and New Zealand.