Regional Comprehensive Economic Partnership

The Regional Comprehensive Economic Partnership (RCEP) is a trade agreement among 15 Asia-Pacific countries, including China, Japan, South Korea, and Australia. It aims to reduce tariffs, encourage investment, and promote economic cooperation across the region. By easing these barriers, RCEP helps goods, services, and investments move more freely between member countries, fostering economic growth and closer ties. It covers areas like trade rules, intellectual property, and digital economy, creating a unified framework to strengthen regional stability and prosperity. Essentially, RCEP facilitates easier and more efficient trade among diverse economies in Asia and Oceania.