Reporting by Stella Qiu and Ryan Woo; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles. In November last year, fifteen Asia-Pacific economies, including China, Japan, South Korea, Australia, New Zealand, and 10 members of the Association of Southeast Asian Nations (ASEAN), formed the worlds largest free trade bloc, covering nearly a third of the global population and about 30% of its global gross domestic product. In November last year, fifteen Asia-Pacific economies, including China, Japan, South Korea, Australia, New Zealand, and 10 members of the Association of Southeast Asian Nations (ASEAN), formed the world's largest free trade bloc, covering nearly a third of the global population and about 30% of its global gross domestic product. FILE PHOTO: Chinese Vice Commerce Minister and Deputy International Trade Representative Wang Shouwen attends a news conference on the state of trade negotiations with U.S. in Beijing, China December 13, 2019. RCEP must be ratified by at least six ASEAN countries and three non-ASEAN countries before it can come into effect.
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