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南方财经全媒体记者李依农 广州报道

The Regional Comprehensive Economic Partnership (RCEP) agreement took effect on June 2 for the Philippines, confirming that the RCEP agreement is now in effect for all 15 members.

The RCEP agreement comprises 15 Asia-Pacific countries including 10 ASEAN member states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam), as well as ASEAN"s five trading partners, namely China, Japan, South Korea, Australia and New Zealand, creating the world"s largest free trade bloc.

"China"s accession to the RCEP marks a significant achievement in its 20-year history with the WTO. This open trade agreement will undoubtedly bring new opportunities for businesses and economic growth," said Yi Xiaozhun, former deputy director-general of the WTO.