Business • Economy

New World's largest trades bloc created

15 countries have formed the world's largest trading bloc.

It is named 'RCEP', short for 'Regional Comprehensive Economic Partnership'. The countries involved include 10 Southeastern Asian companies, South Korea, China, Japan, Australia and New Zealand.

The long road to this point started back in 2012. The US was excluded from the deal after pulling out of a rival Asia-Pacific deal in 2017.

The deal was confirmed by each individual country signing copies of the trade agreement, and then showing it to a camera in a virtual ceremony.

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