(Source: Kyodo)

The 16 countries in the regional free trade framework include Australia, India, Japan, China, the Republic of Korea, New Zealand and the ASEAN member nations.

The participating countries have so far broadly agreed on two fields: economic and technological cooperation, in which advanced countries will pledge to provide assistance to emerging economies; and rules on small and mid-size companies.

The Kobe meeting will discuss 13 fields through February 3rd, such as common rules on investment and e-commerce, as well as the elimination or reduction of trade tariffs.

RCEP is drawing more global attention than ever, as President Donald Trump has pulled the US out of the Trans-Pacific Partnership./.

Compiled by BTA