Regional Comprehensive Economic Partnership (RCEP)

The Regional Comprehensive Economic Partnership (RCEP) is a major trade agreement among 15 countries in Asia and the Pacific, including China, Japan, South Korea, Australia, and the ASEAN nations. Launched in November 2020, RCEP aims to boost economic cooperation by reducing tariffs, streamlining trade regulations, and enhancing investment opportunities. It covers a wide range of sectors, including goods, services, and intellectual property. By promoting closer ties between member countries, RCEP seeks to create a more integrated and resilient regional economy, benefiting businesses and consumers through increased trade and economic growth.