ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Japan approves world's largest free trade pact with China and ASEAN

Move raises possibility for RCEP to enter into force later this year

The Regional Comprehensive Economic Partnership, or RCEP, will create a free trade zone covering a vast section of the world's economy.

TOKYO (Kyodo) -- Japan's parliament approved Wednesday the world's largest free trade deal, signed by 15 Asia-Pacific countries including China and the 10-member Association of Southeast Asian Nations, raising the possibility for the pact to enter into force later this year.

The Regional Comprehensive Economic Partnership will create a free trade zone covering about 30 percent of the world's gross domestic product, trade and population. It will be Japan's first trade deal involving both China and South Korea -- its largest and third biggest trade partners.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more