Japan: Japan Joins Regional Comprehensive Economic Partnership
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On November 15, Japan joined 14 countries spanning the Asia-Pacific region in signing the Regional Comprehensive Economic Partnership (RCEP) agreement. The members of the agreement are China, Japan, South Korea, Australia, New Zealand, and the 10 members of Association of Southeast Asian Nations (ASEAN). For Japan, it is the first trade agreement signed with China and South Korea. Under RCEP, Japan will abolish tariffs on 56% of farm products imported from China, 49% of those from South Korea, and 61% of items from ASEAN, Australia, and New Zealand.
Japan: Japan Joins Regional Comprehensive Economic Partnership
