Leaders of China, Japan and 13 other countries in the region signed a trade deal on Sunday that pulls together the region’s economies and sets a new barrier against American influence in the region.
The New York Times reported that the deal included Brunei, Cambodia, Laos, Malaysia, Myanmar, Indonesia, Singapore, South Korea, Thailand, Vietnam, Australia, New Zealand and the Philippines. Termed the Regional Comprehensive Economic Partnership (RCEP), the agreement covers more people than any unique regional trade agreement in history, as more than 2.2 billion people live in member countries.
A spokesman for India’s Foreign Ministry addressed the signing of a news briefing on Thursday, according to the Times, stating that Prime Minister Narendra Modi’s government did not join the treaty as it “does not address India’s outstanding issues and concerns” is.”
It signs the 2018 Comprehensive Progressive Agreement for Trans-Pacific Partnership signed 2018, the development of the abandoned Trans-Pacific Partnership (TPP) trade agreement from which the Trump administration withdrew in 2017 which includes about a dozen Pacific countries .
The head of China, Li Keqiang, celebrated Sunday, signed in a message received by state media, calling the agreement “a victory for multilateralism and free trade”.
Trump administration announced on Friday Robert O’BrienRobert O’BrienTrump to lead US delegation to South-East Asia Summit National Security Advisor UK says China breaks treaty with Hong Kong’s new rules, pro-democracy lawmakers start resigning in Hong KongThe White House National Security Advisor will lead a delegation with members of the Association of Southeast Asian Nations (ASEAN), whose members attended a virtual summit later this week on the RCEP about the China-backed agreement among other issues Signed