Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

More than twelve countries in the Asia Pacific to sign the world’s largest trade agreement in 2020

More than twelve countries in the Asia Pacific to sign the world’s largest trade agreement in 2020

After negotiating all the rules and regulations for almost six years, Asia Pacific is now all set to sign the world’s largest trade agreement in the year 2020. The deal which is known as the Regional Comprehensive Economic Partnership (RCEP), involves 10 countries from the Association of Southeast Asian Nations (ASEAN) and also involves five of its primary trading partners which are; Australia, China, Japan, New Zealand, and South Korea.

These countries makeup approximately one-third of the world population and also the global domestic product, according to the recent reports made. It is said to be larger deal than all other regional trading blocs such as the European Union and the USMCA agreement.

“RCEP was hard-fought, but a choice made easier by the calculation that Asia needed to push back against protectionism even as the United States chose that path,” academics from the Australian National University stated.

This decision by these countries will boost commerce across the group as the tariff rates go down, by standardizing customs rules and procedures and there will also be widening market access among the existing trade deals. It will also help to develop a good bond and relationship among these countries pertaining to trade and exchange in the coming days.


Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...