RCEP: Looking Beyond Ratification

Source: Press release

Accounting for nearly a third of the world’s population and almost 30 per cent of global GDP, the Regional Comprehensive Economic Partnership (RCEP), concluded in November 2020 and ratified on 1 January 2022, drew its 15 signatories from the Asia-Pacific into the world’s largest trading bloc. Initially conceived by ASEAN as a means of bringing its pre-existing regional trade partners together under a comprehensive economic agreement, RCEP is expected to add US$200 billion to global GDP annually by 2030.

Following the ratification, this event will bring together experts from throughout the Asia-Pacific to consider the likely impact of RCEP on the region’s economy and its practical implications for businesses operating in the region. With many regional economies still plotting their recoveries from the impacts of COVID-19, RCEP represents an opportunity to leverage liberalised trade and supply chain optimisation while kick-starting the Asia-Pacific’s ailing economies.

While questions remain about how all 15 signatories can ensure equitable influence within RCEP, the opportunities this agreement represents for businesses and the Asia-Pacific’s regional economy are clear. Against this backdrop, this event, produced in partnership with CKGSB, will look beyond ratification to consider how RCEP will change the economic and political landscape of the Asia-Pacific and how businesses can practically benefit from the agreement.