Regional Comprehensive Economic Partnership
2020 Asia-Pacific free trade agreement
The Regional Comprehensive Economic Partnership is a free trade agreement for the Asia-Pacific countries of Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.[2]
 RCEP members | |
| Type | Free trade agreement |
|---|---|
| Signed | 15 November 2020 |
| Location | Hanoi, Vietnam (virtual host) |
| Effective | 1 January 2022 |
| Signatories | 15 |
| Parties | 14
|
| Depositary | Secretary-General of ASEAN[1] |
| Language | English (lingua franca)[1] |
The 15 member countries make up about 30% of the world's population (2.2 billion people) and 30% of global GDP ($29.7 trillion). It is the largest trade bloc in history.[3] It was signed in November 2020. RCEP is the first free trade agreement for the largest economies in Asia, including China, Indonesia, Japan, and South Korea.[4]
References
change- ↑ 1.0 1.1 "Final Provisions" (PDF). Chinese Ministry of Commerce. Archived (PDF) from the original on 10 December 2020.
- ↑ "World Bank: RCEP Initiator is Indonesia, Not China". CNBC. 30 November 2020. Retrieved 30 November 2020.
- ↑ "India stays away from RCEP talks in Bali". Nikkei Asian Review. Jakarta. 4 February 2020. Archived from the original on 15 November 2020. Retrieved 4 February 2020.
- ↑ "What is RCEP and what does an Indo-Pacific free-trade deal offer China?". South China Morning Post. 12 November 2020. Archived from the original on 15 November 2020. Retrieved 15 November 2020.
