(VOVworld) – Representatives from 16 nations of the Asia-Pacific region gathered in the Japanese city of Kobe on Monday to start new negotiations of the Regional Comprehensive Economic Partnership (RCEP).

(Photo: alliance/dpa)

The agreement is expected to be a substitute for the Trans-Pacific Partnership (TPP) after the US withdrew from the pact. The first round of RCEP negotiations since the US’s withdrawal from the TPP in January is scheduled to complete on Friday.