![]() ![]() Tariffs are expected to be reduced within 20 years. The FTA is expected to cover all aspects of business including trade, services, e-commerce, telecommunications, and copyright though negotiations over some aspects still need to be finalized. Just like the EU-Vietnam free trade agreement (EVFTA), the UK-Vietnam free trade agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership CPTPP, the RCEP will reduce tariffs and set trade rules, and help link supply chains, particularly as governments grapple with COVID-19 effects. While China is party to a number of bilateral trade agreements, this is the first time it has signed up to a regional multilateral trade pact.
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