Which regional trade agreement was signed in 2020 by 15 Asia-Pacific countries?

The regional trade agreement signed in 2020 by 15 Asia-Pacific countries was the Regional Comprehensive Economic Partnership.

RCEP was signed on 15 November 2020 after negotiations involving the ten ASEAN member states and five partner countries: Australia, China, Japan, New Zealand, and South Korea. India took part in earlier negotiations but withdrew in 2019 and did not sign the agreement.

The agreement covers trade in goods and services, investment, intellectual property, electronic commerce, and other economic rules. It also harmonizes many rules of origin, making it easier for businesses to determine whether products qualify for preferential treatment when supply chains cross several member countries.

RCEP is often described as the world’s largest free-trade agreement by the combined economic size of its participants. It entered into force in 2022 after the required ratifications. RCEP is not a customs union: members retain their own external tariffs and trade policies toward non-members.