Seize trade opportunities, businesses told

World's largest free trade deal expected to be signed by 15 countries next year

The State Council has encouraged businesses to seize opportunities arising from the planned signing of the Regional Comprehensive Economic Partnership next year as part of measures to stabilize foreign trade and the job market.

Officials and experts have applauded the trade deal, saying it will provide a significant boost to investor confidence, benefiting businesses, workers and consumers, and guide the way for the making of future global trade rules.

The Cabinet said after its executive meeting on Nov 6 that it will encourage countries participating in the RCEP to complete talks on remaining issues and work toward the signing of more high-level free trade agreements with other countries.

Countries involved in the trade deal said in a joint statement after a leaders' meeting on Nov 4 that negotiations among 15 participating countries had been completed, even though India still had significant outstanding issues that remained unresolved. The trade pact is expected to be signed next year, it said.