The continent is home to 77 intra-regional deals and 104 extra-regional ones and, as such, is party to 45% of the world’s preferential trade agreements. Indeed, a revamped agreement between ASEAN, Australia and New Zealand took effect on April 21st.

Asian shares are trading mixed, as worries crept back following a Wall Street rally that came after President Donald Trump appeared to back off his criticism of the Federal Reserve and his tough talk in his trade war.

Japan’s benchmark Nikkei 225 added 0.5% to finish at 35,039.15. Australia’s S&P/ASX 200 rose 0.6% to 7,968.20. South Korea’s Kospi lost 0.1% to 2,522.33. Hong Kong’s Hang Seng declined 0.7% to 21,909.76, while the Shanghai Composite was little changed, inching up less than 0.1% to 3,297.29.