Leaders and trade ministers from ASEAN and the 15 Regional Comprehensive Economic Partnership countries pose for a virtual group photo at a videoconference hosted by Vietnam on Nov 15. The countries will form the world's largest trading bloc, encompassing nearly a third of all economic activity. [Photo/Xinhua]

After eight years of negotiations, 15 Asia-Pacific countries signed the Regional Comprehensive Economic Partnership (RCEP) on Nov 15, the world's biggest trade pact. The agreement involves all 10 member countries of the Association of Southeast Asian Nations, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, and five of the bloc's major trading partners－China, Japan, South Korea, Australia and New Zealand.

经过八年谈判，亚太地区15个国家于11月15日签署《区域全面经济伙伴关系协定》（RCEP）。该协定是全球最大的贸易协定，参与国家包括东盟十国（文莱、柬埔寨、印度尼西亚、老挝、马来西亚、缅甸、菲律宾、新加坡、泰国、越南）及其五个主要贸易伙伴：中国、日本、韩国、澳大利亚及新西兰。

The Regional Comprehensive Economic Partnership(RCEP) was launched in 2012 with the goal to deepen economic relationship among the 16 Asia-Pacific nations.

区域全面经济伙伴关系协定（RCEP）于2012年启动，旨在加深16个亚太国家之间的经济关系。

The 15 participating countries of the RCEP account for around 30 percent of the global population, global gross domestic product and 28 percent of global trade.

RCEP 15个成员国的人口和国内生产总值都约占全球的30%，贸易总量约占全球28%。

The RCEP is expected to eliminate 90 percent of the tariffs on imports between its signatory economies within 20 years of coming into effect, which could be by as early as next year. It will also seek to establish common rules for e-commerce, trade and intellectual property.

RCEP预计将在生效20年内（最早可能于明年）取消各签约国之间90%的进口关税。它还将寻求建立电子商务、贸易和知识产权的共同规则。

"The signing of the RCEP is not only a landmark achievement of East Asian regional cooperation, but also a victory of multilateralism and free trade," Chinese Premier Li Keqiang said.

中国总理李克强表示：“RCEP的签署，不仅是东亚区域合作极具标志性意义的成果，更是多边主义和自由贸易的胜利。”

regional economic integration 区域经济一体化

trade facilitation 贸易便利化

free trade  自由贸易

Multilateralism  多边主义（请戳往期链接）

multilateral trading system 多边贸易体制

Collected and edited by Lv Yun

Source: China Daily, Xinhua

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