15-member RCEP trade deal to take effect in Jan., Australia says

Politics Economy

The Regional Comprehensive Economic Partnership trade agreement will take effect on Jan. 1, according to the Australian government, with the deal to facilitate trade liberalization and economic integration in Asia and the Pacific. The 15-member RCEP -- the world's largest free trade agreement despite the absence of the United States -- will be Japan's first trade agreement involving both China and South Korea. The pact can enter into force now that Australia and New Zealand have ratified it, Dan Tehan, Australia's minister for trade, tourism and investment, said in a statement released Tuesday...

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