Regarding RCEP = Regional Comprehensive Economic Partnership, in which 15 countries including Japan, mainly East Asia, participate, the participating countries have agreed to aim for the entry into force by the beginning of January next year.
The RCEP was agreed in November last year by 15 countries including Japan, China, South Korea, and the Association of Southeast Asian Nations ASEAN, and the domestic procedures required for the entry into force are currently underway in each country.
Regarding this, a video conference-style meeting was held by the 15th with the participation of the Minister of Economy, Trade and Industry Kajiyama and the economic ministers of 15 RCEP participating countries, aiming to take effect by the beginning of January next year. I agreed.
This is the first time that all participating countries have agreed on a specific time for the entry into force.
The RCEP will come into effect 60 days after the approval procedures for 6 of the 10 member countries of ASEAN and 3 of the other 5 countries such as Japan and China have been completed.
If it goes into effect, it will create a huge free trade zone that accounts for about 30% of the world's population and GDP, and is expected to expand exports, consumption and investment.
However, only three countries, Japan, China, and Singapore, have completed domestic procedures so far, and it seems that this agreement aims to increase the momentum for the entry into force. ..