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What is RCEP?
Regional Comprehensive Economic Partnership (RCEP) is an economic partnership arrangement involving ASEAN and its FTA partners, namely, China, South Korea, Japan, India, Australia and New Zealand.
RCEP aims to enhance economic integration of East Asia as well as East Asia with India. RCEP has a combined GDP USD 17 trillion and 3 billion population. The launch of RCEP negotiations was announced by the leaders of the 16 countries in November 2012 in Phnom Penh, Cambodia.
The scope of RCEP negotiations will include trade in goods, trade in services, investment, economic and technical cooperation, intellectual property, competition policy and dispute settlementWhen RCEP is expected to embark?
An RCEP negotiation is expected to commence in the 1 st quarter of 2013 and to be concluded by end of 2015
How RCEP benefit member states?
Like all FTAs, RCEP offers its members a consolidated market with streamlined rules of origin which will lead to expansion of trade and investments among the participating countries.
How does RCEP differ than other FTAs
Every FTA is unique. RCEP is an ASEAN-led arrangement based on open accession, which would enable any of the ASEAN FTA partners to participate either from the outset or when they are ready to join at a later date. The arrangement is also open to other external economic partners. The RCEP is unique as it will bring for the first time ASEAN and its FTA partners in one single arrangement.
Last Updated 2015-06-01 18:14:12 by Administrator
