US EditionRCEP set to help stabilize global trading system
- On May 25, 2025, a forum in Haikou, Hainan province brought together media representatives and think tank experts to review developments in the Regional Comprehensive Economic Partnership.
- The forum followed increasing applications for accession from Hong Kong, Sri Lanka, and Chile, with Chile’s entry poised to expand RCEP from a regional to a cross-regional pact.
- The RCEP encompasses nearly a third of the global population and seeks to progressively remove tariffs on the vast majority of products exchanged between its 15 member countries, acting as a significant countermeasure to U.S. Tariff increases.
- In the past year, the total value of trade within RCEP countries climbed to $5.7 trillion, marking a 2.5 percent increase from the previous year, with officials emphasizing the agreement’s importance in supporting global trade stability amid challenging economic conditions.
- Leaders emphasized that advancing RCEP with higher standards and broader scope will foster Asia-Pacific integration, innovation, and market connectivity while reinforcing multilateralism worldwide.
77 Articles
77 Articles
Rutland Herald
RCEP set to help stabilize global trading system
HAIKOU, China, May 25, 2025 /PRNewswire/ -- The advancement of the Regional Comprehensive Economic Partnership agreement to a higher level and toward broader coverage will bolster economic growth in the Asia-Pacific region and help stabilize a fracturing world trade system,…
RCEP set to help stabilize global trading system - Asia News Today
HAIKOU, China, May 26, 2025 /PRNewswire/ — The advancement of the Regional Comprehensive Economic Partnership agreement to a higher level and toward broader coverage will bolster economic growth in the Asia-Pacific region and help stabilize a fracturing world trade system, officials and experts said on Sunday. The mega trade pact, covering 30 percent of the world’s total population and economic output, should play an even more significant role i…
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