business

Japan approves bill to ratify RCEP trade deal

Japan’s Cabinet on Wednesday approved a bill to ratify the world’s largest free trade deal signed last year by 15 Asia-Pacific countries also including China, South Korea and ASEAN members, according to Kyodo News.

The Regional Comprehensive Economic Partnership (RCEP) agreement, covering a third of global trade and population, will become the “foundation of trade in Asia,” Japanese trade minister Hiroshi Kajiyama told a press conference.

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