(VOVWORLD) - Singapore ratified the Regional Comprehensive Economic Partnership (RCEP) and deposited its ratification instrument on Friday.
 Singapore’s Minister of Trade and Industry Chan Chung Sing (Photo: VNA) |
Singapore’s Minister of Trade and Industry Chan Chung Sing said in a press release the same day that Singapore's expeditious ratification of the deal signals its strong commitment to strengthening the country's trade and economic linkages with its partners, for the benefit of our businesses and people.
"We look forward to our fellow RCEP Participating Countries doing likewise, to expedite the entry into force of the agreement,” he said.
The agreement was signed in November, 2020, by 10 ASEAN countries plus China, Japan, South Korea, Australia, and New Zealand.
The RCEP is the world’s largest free trade agreement, with a market of 2.2 billion people and 26.2 trillion USD.