#BizDevTip: What is ‘RCEP’ and why do I care?

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What is ‘RCEP’?

“RCEP” = ‘Regional Comprehensive Economic Partnership’ (RCEP) a proposed free trade agreement (FTA) between the 10 member states of the Association of Southeast Asian Nations (ASEAN):

  • Brunei
  • Cambodia
  • Indonesia
  • Laos
  • Malaysia
  • Myanmar
  • the Philippines
  • Singapore
  • Thailand
  • Vietnam

and the 6 states with which ASEAN has existing FTAs:

  • Australia
  • China
  • India
  • Japan
  • Korea
  • New Zealand

Why do I care?

If RCEP is implemented, it will represent:

  • 1/3 of global GDP
  • 1/2 the world’s population
  • 40% of global trade

Certainly has to be some business development opportunities in that…


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