Regional Comprehensive Economic Partnership: strengthening ties in Asia-Pacific

The Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement between the 10 member states of the Association of Southeast Asian Nations (ASEAN) and its major Asia-Pacific trading partners China, Japan, South Korea, India, Australia, and New Zealand.

RCEP countries are considering opening up their markets to between 80% and 92% of all categories of goods. RCEP accounts for half of the world’s population, nearly 30% of global trade and $22.7 trillion in combined gross domestic product.