[CA/GK/ECON] RCEP

The Regional Comprehensive Economic Partnership is a free trade agreement originally devised to consist of 16 countries across the Asia-Pacific region. The pact looks to drop tariffs and duties between the members so that goods and services can flow freely between them.

RCEP = 10 ASEAN countries + 6 countries

At the RCEP’s administrative core is ASEAN: an intergovernmental grouping of 10 Southeast Asian countries –

1)    Brunei

2)    Cambodia

3)    Indonesia

4)    Laos

5)    Malaysia

6)    Myanmar

7)    The Philippines

8)    Singapore

9)    Thailand and

10)                       Vietnam

It was proposed that the ASEAN bloc will be joined with six dialogue partners:

1)    China

2)    Japan

3)    India

4)    South Korea

5)    Australia and

6)    New Zealand.