World's biggest trade deal RCEP to take effect Jan. 1

Asia-focused pact covers 30% of global population and GDP

RCEP comes into force 60 days after six of 10 ASEAN nations and three of five other countries submit depositions to ASEAN, which is serving as the wider bloc's secretariat. © Reuters

FUMI MATSUMOTO, SATSUKI KANEKO and TSUKASA HADANO, Nikkei staff writers

November 3, 2021 10:59 JST

Updated on November 4, 2021 01:26 JST

SYDNEY/TOKYO/BEIJING -- The world's biggest free trade agreement is set to take effect on Jan. 1, slashing tariffs for countries including Japan, China and members of the Association of Southeast Asian Nations.