"RCEP to Become a New Opportunity for Trade Expansion"

[Asia Economy Reporter Kim Jong-hwa] The Korea Federation of Small and Medium Business (KSMB) welcomed the signing of the Regional Comprehensive Economic Partnership (RCEP) on the 15th, stating that "it will be a new opportunity to expand trade among member countries."

In its statement titled 'SME Sector's Position on the Signing of RCEP' released that day, KSMB said, "At a time when major countries around the world are advocating protectionism and prioritizing their own interests, it is significant that key countries in Asia and Oceania have expressed their commitment to expanding free trade."

In particular, KSMB emphasized that the agreement will bring the effects of a free trade agreement with Japan, stating, "It could be an opportunity to improve relations between Korea and Japan. We will actively support our companies to make good use of this opportunity, and for industries that may suffer damage as a result, detailed reviews should be conducted and support measures should be prepared."

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