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Logo of the RCEP. The Regional Comprehensive Economic Partnership (RCEP / ˈ ɑː r s ɛ p / AR-sep) is a free trade agreement among the Asia-Pacific countries of Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. [2]
A bilateral free trade agreement is between two sides, where each side could be a country (or other customs territory), a trade bloc or an informal group of countries, and creates a free trade area.
Free Trade Agreement [13] Switzerland: 6 July 2013 1 July 2014 Free Trade Agreement [14] South Korea: 1 June 2015 20 December 2015 Free Trade Agreement [15] Australia: 17 June 2015 20 December 2015 Free Trade Agreement [16] Georgia: 13 May 2017 1 January 2018 Free Trade Agreement [17] Maldives: 7 December 2017 1 January 2025 Free Trade Agreement
The free trade agreement reduced tariffs on 7,881 product categories, or 90 percent of imported goods, to zero. [20] This reduction took effect in China and the six original members of ASEAN: Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand.
GUAM Organization for Democracy and Economic Development (GUAM) FTA [11] [12] - unclear application, the WTO was notified in only 2017 - multilateral free trade regime among 4 countries (International Trade Centre says there is no free trade area in operation with distinct rules from an Agreement on Creation of CIS Free Trade Area, was signed ...
Free trade agreements or free trade areas are listed as follows: List of multilateral free trade agreements; List of bilateral free trade agreements; See also.
ASEAN–Australia–New Zealand Free Trade Area (AANZFTA) is a free trade area between ASEAN and ANZCERTA that was signed on 27 February 2009 and came into effect on 1 January 2010. Details of the AANZFTA agreement are available online. [27] ASEAN–China Free Trade Area (ACFTA), in effect as of 1 January 2010 [28]
In 2012, ASEAN+6 countries alone had 339 free trade agreements – many of which were bilateral. [e] The FTAAP is more ambitious in scope than the Doha round, which limits itself to reducing trade restrictions. The FTAAP would create a free trade zone that would considerably expand commerce and economic growth in the region.