China-backed Asian Trade Bloc Looks To Expand, Upgrade Deal

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A l arge but loose Asian trade bloc that includes China, the Regional Comprehensive Economic Partnership, w ill consider adding new members and finding ways to b oost trade when its leaders meet next month , the Malaysian hosts said on Monday.

Malaysia plans to hold a summit of the RCEP, the worlds largest trade bloc, when it hosts the annual gathering of the Association of Southeast Asian Nations in Kuala Lumpur .

Leaders of the RCEP - which includes all 10 ASEAN members as well as China, Japan, South Korea, Australia and New Zealand - have not held an official meeting since November 2020, when they signed a trade deal aimed at lowering tariffs, boosting investment and allowing freer movement of goods.

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