01:30 GMT30 November 2020
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    BEIJING (Sputnik) - China, member states of the Association of Southeast Asian Nations (ASEAN), Japan, South Korea, Australia, and New Zealand on Sunday signed the Regional Comprehensive Economic Partnership (RCEP), the Chinese Finance Ministry said.

    "Further acceleration of trade liberalisation will further contribute to the economic prosperity of the region", the ministry said.

    According to a statement, the RCEP will stimulate the economic recovery of its signatory states after the COVID-19 pandemic.

    © AP Photo / Aijaz Rahi
    ASEAN Summit, November 2019

    ASEAN member states include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

    The RCEP is a major free-trade agreement between 15 countries in the Asia-Pacific region which together account for almost one-third of the world's population. The agreement was signed during an online ceremony on the sidelines of the annual ASEAN summit.

    Regional Comprehensive Economic Partnership (RCEP), Regional Comprehensive Economic Partnership (RCEP), Regional Comprehensive Economic Partnership (RCEP), China, ASEAN, ASEAN, ASEAN
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