Accounting for 30% of the world’s population and 30% of global GDP, the bloc is larger than the European Union.
As the United Kingdom continues to negotiate trade agreements with the European Union and other trading partners, fifteen Asia-Pacific countries recently signed a new multilateral trade agreement named the Regional Comprehensive Economic Partnership (RCEP). That agreement, the subject of negotiations since 2012, is expected to shape the Asia-Pacific economy in the decades ahead by establishing a single set of harmonised and predictable trading rules applicable across developed and developing economies in the region. The new framework presents economic opportunities for many countries, including those outside the Asia-Pacific region, and provides the United Kingdom and its private sector new opportunities in a post-Brexit economy. Continue Reading