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What Is The Largest Free Trade Agreement In The World What Countries Are Involved

The new free trade bloc will be more important than the agreement between the United States, Mexico and Canada and the European Union. In general, all these agreements create common rules for all the actors involved, which facilitates the trade of companies in different areas. With reservations regarding entry into force and rules of origin, countries that have signed both a free trade agreement with the EU and RCEP, in particular Singapore, a major English-speaking centre that ranks first in the East Asia Rule of Law Index (third in the region after New Zealand and Australia and twelfth in the world: worldjusticeproject.org/sites/default/files/documents/Singapore%20-%202020%20WJP%20Rule%20of%20Law%20Index%20Country%20Press%20Release.pdf), could connect the two regions and facilitate global trade even in these difficult times. In the digital space, RCEP is remarkable because it is one of the first times China has accepted global standards for e-commerce and data flows (although the practical impact may be limited by public policy exceptions so large that in this case they may ultimately swallow the rule). In a broader sense, the agreement does not go to the limits of e-commerce and digital commerce, despite their growing importance, which is accelerating due to COVID-19. RCEP, whose negotiations have been eight years old, is expected so far to include India as well. However, India withdrew from the negotiations last year over concerns about how the deal would affect its agricultural sector. Despite India`s withdrawal, the joint statement of the signatories said it was welcome to conclude the RCEP agreement.

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