KUALA LUMPUR: The Regional Comprehensive Economic Partnership (RCEP) free trade agreement has come into force in Malaysia as of Friday (March 18), says the International Trade and Industry Ministry.

       In a Facebook post on Thursday (March 17), the ministry said the RCEP market size comprises over 2.2 billion people, almost a third of the entire global population with about 30% of the world's trading volume.

       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$200mil increase, the ministry said in a statement.