New Asian trade bloc could play key role in driving investment

The Regional Comprehensive Economic Partnership agreement (RCEP) was signed on Sunday by 15 countries including China, Japan, Australia, Vietnam and South Korea, jointly covering a total population of more than 2.3 billion people – five times the size of the European Union. 

“The agreement could help revive post-COVID economic growth, boost intra-regional trade and investment links at a time of global trade tensions, and provide a framework for further regional cooperation”, the report said. 

Asia is already a major destination for foreign direct investment (FDI) and it has fared relatively well as an investment target during the global pandemic, but RCEP could give its members extra support and a stimulus as the pandemic subsides, the report said.  

In full: https://news.un.org/en/story/2020/11/1077732

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