Malaysia confirms China-backed RCEP free trade pact comes into force, expects US$200 million boost

The Regional Comprehensive Economic Partnership (RCEP) free trade agreement entered into force in Malaysia from Friday, the country’s trade ministry said.Malaysia is expected to be the largest beneficiary of the China-backed RCEP among Southeast Asian countries in terms of export gains, with a projected US$200 million increase, the ministry said in a statement.Business communities, from large to small scale entrepreneurs, are encouraged to take advantage of the vast investment opportunities and…