Signing of RCEP a positive sign for multilateral trade relationships in Asia, but impact on China’s oil market growth to be minimal in the short-term

China and 10 members of the Association of Southeast Asian Nations plus Australia, Japan, New Zealand and South Korea signed the Regional Comprehensive Economic Partnership agreement, or RCEP on Nov. 15. The new accord demonstrated Beijing’s commitment of engagement in Asia-Pacific market, which is a breakthrough for multilateral trade relationships in the region. However, S&P …

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