Singapore: First Country To Ratify ‘RCEP’

On April 9, 2021, Singapore became the first country among 15 participating countries to ratify the Regional Comprehensive Economic Partnership (RCEP) agreement.
RCEP is the world’s largest free trade agreement, led by China and comprising 10 ASEAN economies as well as Australia, China, Japan, New Zealand and South Korea.
To come into effect, the RCEP must first be ratified by at least six ASEAN and three non-ASEAN member states.
Once implemented, RCEP would be the world’s largest free trade agreement, covering around one third of the world’s population and about 30% of the world’s economy.