A major free trade agreement was signed as part of the Association of Southeast Asian Nations (ASEAN) summit held in Hanoi, Vietnam, in mid-November 2020. A total of 15 Southeast Asian countries, along with Australia and New Zealand, signed the agreement, called the Regional Comprehensive Economic Partnership (RCEP). According to Bloomberg, this is the largest trade agreement involving a market with a population of 2.2 billion and a total GDP of almost USD 26 trillion. The agreement also affects services, investment, information technology, e-commerce and intellectual property.