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RCEP: what does this trade agreement mean for your business?

Understand the Regional Comprehensive Economic Partnership, what it means for global trade and the UK’s accession to the CPTPP.

14 Jan 2021, 5 min read

On 15 November 2020, the Regional Comprehensive Economic Partnership (RCEP) was signed between 10 countries in the Association of South-East Asian Nations (ASEAN) including China, Japan, Australia, and New Zealand. Once completed, it will be the world’s largest trading bloc, making up 24% of global GDP with a combined value of $25.8tn. India dropped out of negotiations over demands for greater service access and concerns lower tariffs could hurt local producers. The agreement will come into force in November 2022.

How does RCEP compare with the other major Asian trade deal the CPTPP? 

The Comprehensive and Progressive Ag

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