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What the World’s Largest Trade Agreement Means for Fashion

Who are the industry’s big winners and losers as a result of this week’s signing of the Regional Comprehensive Economic Partnership (RCEP)?

Prime Minister of New Zealand Jacinda Ardern, Indian Prime Minister Narendra Modi and Chinese Premier Li Keqiang were among the attendees of the third RCEP summit in November. — Prime Minister of New Zealand Jacinda Ardern, Indian Prime Minister Narendra Modi and Chinese Premier Li Keqiang were among the attendees of the third RCEP summit in November. | Photo: Getty Images, Collage by BoF

By

Casey Hall

19 November 2020

BoF PROFESSIONAL

China is being lauded as a big winner in a newly signed agreement reducing trade barriers across 15 countries in the Asia-Pacific region. The Regional Comprehensive Economic Partnership (RCEP) accounts for approximately 30 percent of the global economy, and almost one-third of the world’s population (2.2 billion consumers).

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