View source for Regional Comprehensive Economic Partnership

{{Short description|2020 Asia-Pacific free trade agreement}}
{{Redirect|RCEP|other uses}}
{{EngvarB|date=June 2023}}
{{Use dmy dates|date=November 2015}}
{{Infobox treaty
| name                = Regional Comprehensive Economic Partnership
| long_name           = 
| image               = RCEP.png
| caption             = RCEP members
| type                = [[Free trade agreement]]
| date_drafted        = 
| date_signed         = 15 November 2020
| negotiators         = 
| location_signed     = [[Hanoi]], Vietnam (virtual host)
| date_sealed         = 
| date_effective      = 1 January 2022
| signatories         = '''15'''
*{{flag|Australia}}
*{{flag|Brunei}}
*{{flag|Cambodia}}
*{{flag|China}}
*{{flag|Indonesia}}
*{{flag|Japan}}
*{{flag|South Korea}}
*{{flag|Laos}}
*{{flag|Malaysia}}
*{{flag|Myanmar}}
*{{flag|New Zealand}}
*{{flag|Philippines}}
*{{flag|Singapore}}
*{{flag|Thailand}}
*{{flag|Vietnam}}
| parties             = '''14'''
*{{flag|Australia}} (1 January 2022)
*{{flag|Brunei}} (1 January 2022)
*{{flag|Cambodia}} (1 January 2022)
*{{flag|China}} (1 January 2022)
*{{flag|Indonesia}} (2 January 2023)
*{{flag|Japan}} (1 January 2022)
*{{flag|South Korea}} (1 February 2022)
*{{flag|Laos}} (1 January 2022)
*{{flag|Malaysia}} (18 March 2022)
*{{flag|New Zealand}} (1 January 2022)
*{{flag|Philippines}} (2 June 2023)
*{{flag|Singapore}} (1 January 2022)
*{{flag|Thailand}} (1 January 2022)
*{{flag|Vietnam}} (1 January 2022)
| depositor           = [[Secretary-General of ASEAN]]<ref name=finprov>{{cite web|url=http://fta.mofcom.gov.cn/rcep/rceppdf/d20z_en.pdf|title=Final Provisions |publisher=[[Chinese Ministry of Commerce]] |archive-url=https://web.archive.org/web/20201210133152/http://fta.mofcom.gov.cn/rcep/rceppdf/d20z_en.pdf |archive-date=10 December 2020 |url-status=live }}</ref>
| language            = English (''[[lingua franca]]'')<ref name=finprov/>
| wikisource          = 
| date_expiration     = 
}}
[[File:Logo RCEP.png|thumb|Logo of the RCEP]]

The '''Regional Comprehensive Economic Partnership''' ('''RCEP''' {{IPAc-en|ˈ|ɑː|r|s|ɛ|p}} {{Respell|AR|sep}}) is a [[free trade agreement]] among the Asia-Pacific countries of [[Australia]], [[Brunei]], [[Cambodia]], [[China]], [[Indonesia]], [[Japan]], [[South Korea]], [[Laos]], [[Malaysia]], [[Myanmar]], [[New Zealand]], the [[Philippines]], [[Singapore]], [[Thailand]], and [[Vietnam]].<ref name="Initiator">{{cite web |title=World Bank: RCEP Initiator is Indonesia, Not China |url=https://www.cnbcindonesia.com/news/20201130110944-4-205621/world-bank-inisiator-rcep-adalah-indonesia-bukan-china |website=CNBC |access-date=30 November 2020 |date=30 November 2020 }}</ref> The 15 member countries account for about 30% of the [[List of countries and dependencies by population|world's population]] (2.2 billion people) and 30% of [[gross world product|global GDP]] ($29.7 trillion), making it the largest [[trade bloc]] in history.<ref>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=India stays away from RCEP talks in Bali |url=https://asia.nikkei.com/Economy/Trade/India-stays-away-from-RCEP-talks-in-Bali |work=Nikkei Asian Review |location=Jakarta |date=4 February 2020 |access-date=4 February 2020 |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115174517/https://asia.nikkei.com/Economy/Trade/India-stays-away-from-RCEP-talks-in-Bali |url-status=live }}</ref> Signed in November 2020, RCEP is the first free trade agreement among the [[List of Asian countries by GDP|largest economies in Asia]], including China, Indonesia, Japan, and South Korea.<ref name="SCMP What is RCEP">{{cite news |title=What is RCEP and what does an Indo-Pacific free-trade deal offer China? |url=https://www.scmp.com/news/china/diplomacy/article/3109436/what-rcep-and-what-does-indo-pacific-free-trade-deal-offer |access-date=15 November 2020 |work=South China Morning Post |date=12 November 2020 |language=en |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115174455/https://www.scmp.com/news/china/diplomacy/article/3109436/what-rcep-and-what-does-indo-pacific-free-trade-deal-offer |url-status=live }}</ref>

The RCEP was conceived at the 2011 [[ASEAN Summit]] in [[Bali]], Indonesia, while negotiations formally launched during the 2012 ASEAN Summit in Cambodia.<ref>{{Cite news |url=https://www.straitstimes.com/asia/a-trade-pact-nearly-10-years-in-the-making-5-things-to-know-about-rcep |title=A trade pact nearly 10 years in the making: 5 things to know about RCEP |newspaper=The Straits Times |date=15 November 2020 |access-date=15 November 2020 |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115174453/https://www.straitstimes.com/asia/a-trade-pact-nearly-10-years-in-the-making-5-things-to-know-about-rcep |url-status=live }}</ref><ref name="SCMP China declares victory as 15 nations sign"/><ref name=Challenges>{{cite web|url=http://www.rsis.edu.sg/publications/Perspective/RSIS1402013.pdf|title=RCEP: Challenges and Opportunities for India, 25 July 2013, RSIS, Singapore |website=rsis.edu.sg|access-date=24 April 2018|archive-url=https://web.archive.org/web/20131230233448/http://www.rsis.edu.sg/publications/Perspective/RSIS1402013.pdf |archive-date=30 December 2013|url-status=dead|df=dmy-all}}</ref> India, which took part in the initial negotiations but later decided to opt out, was invited to join the bloc at any time. Any other country or separate customs territory in the region can accede to the pact from 1 July 2023 onward.<ref name="Sign1">{{cite web |title=Asia-Pacific nations sign world's largest trade pact RCEP |url=https://www.channelnewsasia.com/news/business/rcep-trade-pact-asean-summit-singapore-china-13534960 |website=CNA |access-date=15 November 2020 |date=15 November 2020 |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115174450/https://www.channelnewsasia.com/news/business/rcep-trade-pact-asean-summit-singapore-china-13534960 |url-status=live }}</ref><ref name="Sign2">{{cite web |last1=Ng |first1=Charmaine |title=15 countries, including Singapore, sign RCEP, the world's largest trade pact |url=https://www.straitstimes.com/singapore/politics/15-countries-including-singapore-sign-rcep-the-worlds-largest-trade-pact |website=The Straits Times |access-date=15 November 2020 |date=15 November 2020 |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115174451/https://www.straitstimes.com/singapore/politics/15-countries-including-singapore-sign-rcep-the-worlds-largest-trade-pact |url-status=live }}</ref><ref>{{cite news |title=RCEP: Asia-Pacific nations sign world's biggest trade pact |url=https://www.aljazeera.com/economy/2020/11/15/rcep-15-asia-pacific-nations-set-worlds-biggest-trade-pact |access-date=15 November 2020 |work=www.aljazeera.com |language=en |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115171723/https://www.aljazeera.com/economy/2020/11/15/rcep-15-asia-pacific-nations-set-worlds-biggest-trade-pact |url-status=live }}</ref> The treaty was formally signed on 15 November 2020 at the virtual ASEAN Summit hosted by Vietnam. For the first ten ratifying countries, the trade pact took effect on 1 January 2022.<ref name="aus nz">{{cite web |title=The date of the entry into force of the Regional Comprehensive Economic Partnership Agreement|url=https://www.mofa.go.jp/press/release/press4e_003051.html |website=Ministry of Foreign Affairs of Japan |date=3 November 2021 |access-date=4 November 2021}}</ref><ref>{{cite web |title=Asia-Pacific's 15-member RCEP trade deal to take effect in January, Australia says |url=https://www.japantimes.co.jp/news/2021/11/03/business/economy-business/rcep-january/ |website=The Japan Times |date=3 November 2021 |access-date=3 November 2021}}</ref><ref>{{Cite web|date=2022-01-01|title=World's largest free trade deal is under way, but what is RCEP?|url=https://www.scmp.com/economy/global-economy/article/3161707/what-rcep-worlds-largest-free-trade-deal-under-way|access-date=2022-01-01|website=South China Morning Post|language=en}}</ref>

The RCEP includes a mix of high-,<ref group="note">Australia, Brunei, Japan, New Zealand, Singapore and South Korea</ref> middle-,<ref group="note">China, Indonesia, Malaysia, the Philippines, Thailand and Vietnam</ref> and low-income countries.<ref group="note">Cambodia, Laos and Myanmar</ref> It is expected to eliminate about 90% of the [[tariff]]s on imports between its signatories within 20 years of coming into force, and establish common rules for [[e-commerce]], trade, and intellectual property.<ref name="SCMP What is RCEP"/> Several analysts predicted that it would offer significant economic gains for signatory states, boost [[Economic impact of the COVID-19 pandemic|post-pandemic economic recovery]], as well as "pull the economic centre of gravity back towards Asia, with China poised to take the lead in writing trade rules for the region," leaving the United States behind in economic and political affairs in the region.{{refn|group=note|See references{{larger|<ref name="SCMP China declares victory as 15 nations sign"/><ref name="USDecline">{{cite news |title=US being left behind after Asia forms world's biggest trade bloc RCEP: US Chamber|url=https://www.channelnewsasia.com/news/asia/rcep-us-chamber-of-commerce-left-behind-asia-economy-trade-13576598|access-date=18 November 2020 |work=CNA|date=18 November 2020|language=en}}</ref><ref name="TimeUS">{{cite news |title=Why the U.S. Could Be the Big Loser in the Huge RCEP Trade Deal Between China and 14 Other Countries|url=https://time.com/5912325/rcep-china-trade-deal-us/|access-date=18 November 2020 |magazine=[[Time (magazine)|Time]]|date=18 November 2020|language=en}}</ref><ref name="broo_RCEP_A">{{Cite web |title=RCEP: A new trade agreement that will shape global economics and politics |last1=Petri |first1=Peter A. |last2=Plummer |first2=Michael |publisher=[[Brookings Institution]] |date=November 16, 2020 |access-date=February 4, 2021 |url= https://www.brookings.edu/blog/order-from-chaos/2020/11/16/rcep-a-new-trade-agreement-that-will-shape-global-economics-and-politics/}}</ref><ref name="PIIE US Decouples"/><ref name="ADB contribution"/><ref name="Bangkok Post trade"/><ref name="jakartaglobe_benefits">{{cite news |title=Indonesia Eyes Multiple Benefits from RCEP|url=https://jakartaglobe.id/business/indonesia-eyes-multiple-benefits-from-rcep|access-date=14 February 2021|work=Jakarta Globe|date=16 November 2020|language=en}}</ref><ref name="malaysianreserve_global">{{cite news |title=RCEP to enable local industries to enter global market|url=https://themalaysianreserve.com/2020/12/23/rcep-to-enable-local-industries-to-enter-global-market/|access-date=15 February 2021|work=The Malaysian Reserve|date=23 December 2020|language=en}}</ref><ref name="Korea_herald_moon_sign"/><ref name="Korea_herald_firms_benefit"/>}}}} Reactions from others were neutral or negative,{{refn|group=note|See references{{larger|<ref name="EFF"/><ref name="indi_India_decides"/><ref name="bbc_What_is"/><ref name="taip_RCEP_not"/><ref name="fore_Cutting_Through"/><ref name="reut_RCEP_unlikely"/><ref name="cnbc_A_coup"/><ref name="wsj._Asias_Huge"/><ref name="Mahadevan Nugroho pp. 3148–3167"/><ref name="hind_India_has"/><ref name="inte_RCEP_Has"/><ref name="reut_Fears_world's"/>}}}} with some analysts saying that the economic gains from the trade deal would be modest.<ref name="cnbc_A_coup"/><ref name="wsj._Asias_Huge"/><ref name="Mahadevan Nugroho pp. 3148–3167"/><ref name="hind_India_has"/>

==Membership==
===Signatories===
* All ten members of [[ASEAN]] (excludes candidate member {{Flag|East Timor}}):
** {{Flag|Brunei}}
** {{Flag|Cambodia}}
** {{Flag|Indonesia}}
** {{Flag|Laos}}
** {{Flag|Malaysia}}
** {{Flag|Myanmar}}
** {{Flag|Philippines}}
** {{Flag|Singapore}}
** {{Flag|Thailand}}
** {{Flag|Vietnam}}
* RCEP is the first trade agreement to include all three East Asian members of [[ASEAN#ASEAN Plus Three|ASEAN Plus Three]]:<ref name=":Ma&Kang">{{Cite book |last=Ma |first=Xinru |title=Beyond Power Transitions: The Lessons of East Asian History and the Future of U.S.-China Relations |last2=Kang |first2=David C. |date=2024 |publisher=[[Columbia University Press]] |isbn=978-0-231-55597-5 |series=Columbia Studies in International Order and Politics |location=New York}}</ref>{{Rp|page=176}}
** {{Flag|China}}
** {{Flag|Japan}}
** {{Flag|South Korea}}
* The two Oceanian members of [[ASEAN#ASEAN Plus Six|ASEAN Plus Six]]:
** {{Flag|Australia}}
** {{Flag|New Zealand}}<ref name="Joint Statement"/>

{| class="wikitable sortable" width="100%" style="font-size:85%;"
|-
!class="unsortable"| Flag !! Country<br /> !! Capital<br /> !! Area<br />{{small|(km<sup>2</sup>)}}<br /> !! [[List of countries and dependencies by population|Population]] !! [[List of countries by GDP (nominal)|Nominal GDP]]<br />{{small|(millions of US$)}}<ref name="IMF">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/April/weo-report?c=111,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2022&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=Report for Selected Countries and Subjects: April 2024|publisher=[[International Monetary Fund]]|website=imf.org}}</ref> !! [[List of countries by GDP (nominal) per capita|GDP per cap.<br />{{small|(Nominal, US$)}}]]<ref name="IMF"/> !! [[List of countries by GDP (PPP)|PPP GDP]]<br />{{small|(millions of Int$)}}<br /><ref name="IMF"/> !! [[List of countries by GDP (PPP) per capita|GDP per cap.<br />{{small|(PPP, Int$)}}]]<ref name="IMF"/> !! [[List of countries by Human Development Index|HDI]]<ref>{{Cite web |date=13 March 2024 |title=Human Development Report 2023/2024 |url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf|url-status=live |archive-url=https://web.archive.org/web/20240313164319/https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf |archive-date=13 March 2024 |access-date=2 May 2024 |publisher=[[United Nations Development Programme]] |language=en}}</ref>!![[List of circulating currencies|Currency]]<br /> !!class="unsortable"| [[Official language]]s !!class="unsortable"| Leaders
|-
|align=center| [[File:Flag of Australia (converted).svg|30px|border]] || '''Australia'''<br />Commonwealth of Australia|| [[Canberra]] ||align=right| 7,692,024 ||align=right| 25,698,300||align=right| 1,790,348 ||align=right| {{Nts|66,589}} ||align=right| 1,791,358 ||align=right| {{Nts|66,627}} ||align=right| {{Nts|0.946}}|| align="center" | Australian dollar ($)<br />(AUD) ||align=center| ''None'' <small>(''de jure'')</small><br /> [[Australian English|English]] <small>(''de facto'')</small>|| [[Monarchy of Australia|Monarch]]: [[Charles III]] <br /> [[Governor-General of Australia|Governor-General]]: [[Sam Mostyn]] <br /> [[Prime Minister of Australia|Prime Minister]]: [[Anthony Albanese]]
|-
|align=center| [[File:Flag of Brunei.svg|30px|border]] || '''Brunei'''<br />Brunei Darussalam<br />''Negara Brunei Darussalam''<br />نڬارا بروني دارالسلام|| [[Bandar Seri Begawan]] ||align=right| 5,765 ||align=right| 459,500||align=right| 15,510 ||align=right| {{Nts|35,111}} ||align=right| 34,249 ||align=right| {{Nts|77,534}} ||align=right| {{Nts|0.836}}|| align="center" | [[Brunei dollar]] ($)<br />(BND) ||align=center| [[Brunei Malay|Malay]]<br /> [[Brunei English|English]] || [[List of Sultans of Brunei|Monarch]]: [[Hassanal Bolkiah]] 
|-
|align=center| [[File:Flag of Cambodia.svg|30px|border]] || '''Cambodia'''<br />Kingdom of Cambodia<br />ព្រះរាជាណាចក្រកម្ពុជា<br />''{{small|Preăh Réachéanachâk Kâmpŭchéa}}''<br />''Royaume du Cambodge''|| [[Phnom Penh]] ||align=right| 181,035 ||align=right| 15,626,444||align=right| 45,150 ||align=right| {{Nts|2,628}} ||align=right| 142,392 ||align=right| {{Nts|8,287}} ||align=right| {{Nts|0.600}}|| align="center" | [[Cambodian riel]] ([[៛]])<br />(KHR) ||align=center| [[Khmer language|Khmer]] || [[List of monarchs of Cambodia|Monarch]]: [[Norodom Sihamoni]]<br />[[Prime Minister of Cambodia|Prime Minister]]: [[Hun Manet]]
|-
|align=center| [[File:Flag of the People's Republic of China.svg|30px|border]] || '''China'''<br />People's Republic of China<br />中华人民共和国<br />''{{small|Zhōnghuá Rénmín Gònghéguó}}''|| Beijing ||align=right| 9,596,961 ||align=right| 1,400,050,000||align=right| 18,532,633 ||align=right| {{Nts|13,136}} || align="right" | 35,291,015 ||align=right| {{Nts|25,015}} || align="right" | {{Nts|0.788}}|| align="center" | [[Renminbi]] (Chinese yuan, [[¥]])<br />(CNY) ||align=center| [[Standard Chinese]] <br /> see also: [[Languages of China]] ||[[General Secretary of the Communist Party of China|General Secretary]] and [[President of the People's Republic of China|President]]: [[Xi Jinping]] <br />[[Premier of the People's Republic of China|Premier]]: [[Li Qiang]]
|-
|align=center| [[File:Flag of Indonesia.svg|30px|border]] || '''Indonesia'''<br />Republic of Indonesia<br />''Republik Indonesia''|| [[Jakarta]] ||align=right| 1,910,931 ||align=right| 270,203,917|| align="right" | 1,475,690 ||align=right| {{Nts|5,271}} ||align=right| 4,720,542 ||align=right| {{Nts|16,861}} ||align=right| {{Nts|0.713}}|| align="center" | [[Indonesian rupiah]] (Rp) <br />(IDR) ||align=center| [[Indonesian language|Indonesian]] <br />see also: [[Languages of Indonesia]]|| [[President of Indonesia|President]]: [[Prabowo Subianto]]
|-
|align=center| [[File:Flag of Japan.svg|30px|border]] || '''Japan'''<br />日本国<br />''{{small|Nihon-koku}}''|| Tokyo ||align=right| 377,930 ||align=right| 126,760,000||align=right| 4,110,452 ||align=right| {{Nts|33,138}} ||align=right| 6,720,962 ||align=right| {{Nts|54,184}} ||align=right| {{Nts|0.920}}|| align="center" | [[Japanese yen]] ([[¥]]) <br />(JPY) ||align=center| ''None'' <small>(''de jure'')</small><br /> Japanese <small>(''de facto'')</small>|| [[Emperor of Japan|Monarch]]: [[Naruhito]] <br /> [[Prime Minister of Japan|Prime Minister]]: [[Fumio Kishida]]
|-
| align="center" | [[File:Flag of Laos.svg|30px|border]] || '''Laos'''<br />Lao People's Democratic Republic<br />ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ<br />''{{small|Sathalanalat Paxathipatai Paxaxon Lao}}''<br />''République démocratique populaire lao''|| [[Vientiane]] || align="right" | 236,800 || align="right" | 7,123,205|| align="right" | 15,190 || align="right" | {{Nts|1,976}} || align="right" | 78,713 || align="right" | {{Nts|10,242}} || align="right" | {{Nts|0.620}}|| align="center" | [[Lao kip]] ([[₭]]) <br />(LAK) || align="center" | [[Lao language|Lao]]<br />[[French language in Laos|French]] ||[[General Secretary of the Lao People's Revolutionary Party|General Secretary]] and [[President of Laos|President]]: [[Thongloun Sisoulith]]
[[Prime Minister of Laos|Prime Minister]]: [[Sonexay Siphandone]] <br />
|-
| align="center" | [[File:Flag of Malaysia.svg|30px|border]] || '''Malaysia'''<br /> مليسيا|| [[Kuala Lumpur]] <br /> [[Putrajaya]] <small>(administrative)</small> || align="right" | 330,803 || align="right" | 32,273,000|| align="right" | 445,519 || align="right" | {{Nts|13,315}} || align="right" | 1,305,942 || align="right" | {{Nts|39,030}} || align="right" | {{Nts|0.807}}|| align="center" | [[Malaysian ringgit]] (RM) <br />(MYR) || align="center" | [[Malaysian language|Malay]] <br /> || [[Yang di-Pertuan Agong|Monarch]]: [[Ibrahim Iskandar of Johor|Ibrahim]] <br /> [[Prime Minister of Malaysia|Prime Minister]]: [[Anwar Ibrahim]]
|-
| align="center" | [[File:Flag of Myanmar.svg|30px|border]] || '''Myanmar''' <br />Republic of the Union of Myanmar<br />ပြည်ထောင်စု သမ္မတ မြန်မာနိုင်ငံတော်<br />''{{small|Pyidaunzu Thanmăda Myăma Nainngandaw}}''|| [[Naypyidaw]] || align="right" | 676,578 || align="right" | 54,836,000|| align="right" | 68,006 || align="right" | {{Nts|1,248}} || align="right" | 283,572 || align="right" | {{Nts|5,203}} || align="right" | {{Nts|0.608}}|| align="center" | [[Burmese kyat]] (K) <br />(MMK) || align="center" | [[Burmese language|Burmese]] <br /> see also: [[Languages of Myanmar]] || [[President of Myanmar|President]]: [[Myint Swe]]<br />[[Chairman of the State Administration Council]] and [[Prime Minister of Myanmar|Prime Minister]]: [[Min Aung Hlaing]]
|-
| align="center" | [[File:Flag of New Zealand.svg|30px|border]] || '''New Zealand'''<br />''Aotearoa'' || [[Wellington]] || align="right" | 270,467 || align="right" | 4,786,710|| align="right" | 257,626 || align="right" | {{Nts|48,531}} || align="right" | 285,582 || align="right" | {{Nts|53,797}} || align="right" | {{Nts|0.939}}|| align="center" | New Zealand dollar ($)<br />(NZD) || align="center" | [[New Zealand English|English]] <br /> [[Māori language|Māori]] <br /> [[NZ Sign Language]]|| [[Monarchy of New Zealand|Monarch]]: [[Charles III]] <br /> [[Governor-General of New Zealand|Governor-General]]: [[Cindy Kiro]] <br /> [[Prime Minister of New Zealand|Prime Minister]]: [[Christopher Luxon]]
|-
| align="center" | [[File:Flag of the Philippines.svg|30px|border]] || '''Philippines'''<br />Republic of the Philippines<br />''Republika ng Pilipinas''|| [[Manila]] || align="right" | 300,000 || align="right" | 109,048,269|| align="right" | 471,516 || align="right" | {{Nts|4,130}} || align="right" | 1,391,800 || align="right" | {{Nts|12,192}} || align="right" | {{Nts|0.710}}|| align="center" | [[Philippine peso]] ([[₱]]) <br />(PHP) || align="center" | [[Philippine English|English]] <br /> Filipino <br /> see also: [[Languages of the Philippines]]|| [[President of the Philippines|President]]: [[Bongbong Marcos]]
|-
| align="center" | [[File:Flag of Singapore.svg|30px|border]] || '''Singapore'''<br />Republic of Singapore<br />''Republik Singapura''<br />新加坡共和国<br />''{{small|Xīnjiāpō Gònghéguó}}''<br />சிங்கப்பூர் குடியரசு<br />''{{small|Ciṅkappūr Kuṭiyaracu}}''|| Singapore <br /><small>([[city-state]])</small> || align="right" | 780 || align="right" | 5,453,600 || align="right" | 525,230 || align="right" | {{Nts|88,447}} || align="right" | 794,179 || align="right" | {{Nts|133,737}} || align="right" | {{Nts|0.949}}|| align="center" | [[Singapore dollar]] ($) <br />(SGD) || align="center" | [[Singapore English|English]] <br /> [[Malay language|Malay]] <br /> [[Singaporean Mandarin|Standard Chinese]] <br /> [[Tamil language|Tamil]] || [[President of Singapore|President]]: [[Tharman Shanmugaratnam]] <br /> [[Prime Minister of Singapore|Prime Minister]]: [[Lawrence Wong]]
|-
|align=center| [[File:Flag of South Korea.svg|30px|border]] || '''South Korea'''<br />Republic of Korea<br />대한민국<br />大韓民國<br />''{{small|Daehan Minguk}}''|| [[Seoul]] ||align=right| 100,210 ||align=right| 51,709,098||align=right| 1,760,947 ||align=right| {{Nts|34,165}} ||align=right| 3,057,995 ||align=right| {{Nts|59,330}} ||align=right| {{Nts|0.929}}|| align="center" | [[South Korean won]] ([[₩]]) <br />(KRW) ||align=center| Korean<br />[[Korean Sign Language]] || [[President of South Korea|President]]: [[Yoon Suk-yeol]] <br /> [[Prime Minister of South Korea|Prime Minister]]: [[Han Duck-soo]]
|-
|align=center| [[File:Flag of Thailand.svg|30px|border]] || '''Thailand'''<br />Kingdom of Thailand<br />ราชอาณาจักรไทย<br />''{{small|Ratcha-anachak Thai}}''|| [[Bangkok]] ||align=right| 513,120 ||align=right| 68,298,000||align=right| 548,890 ||align=right| {{Nts|7,812}} ||align=right| 1,644,322 ||align=right| {{Nts|23,401}} ||align=right| {{Nts|0.803}}|| align="center" | [[Thai baht]] ([[฿]]) <br />(THB) ||align=center| [[Thai language|Thai]] || [[Monarchy of Thailand|Monarch]]: [[Maha Vajiralongkorn]] <br /> [[Prime Minister of Thailand|Prime Minister]]: [[Srettha Thavisin]]
|-
|align=center| [[File:Flag of Vietnam.svg|30px|border]] || '''Vietnam'''<br />Socialist Republic of Viet Nam<br />''Cộng hòa Xã hội chủ nghĩa Việt Nam'' || [[Hanoi]] ||align=right| 331,699 ||align=right| 96,208,984||align=right| 465,814 ||align=right| {{Nts| 4,623 }} ||align=right| 1,558,898 ||align=right| {{Nts|15,470}} ||align=right| {{Nts|0.726}}|| align="center" | [[Vietnamese đồng]] ([[₫]]) <br />(VND) ||align=center| [[Vietnamese language|Vietnamese]] || [[President of Vietnam|President]]: [[Tô Lâm]] <br /> [[Prime Minister of Vietnam|Prime Minister]]: [[Phạm Minh Chính]]
|}

=== Ratifications ===
{| class="wikitable sortable"
|+
!Country
! class=unsortable | Signatory
!Ratification
!Effective
|-
|{{flagu|Australia}}
| rowspan="15" style="background-color:lightgreen" |November 15, 2020
| style="background-color:lightgreen" | November 2, 2021<ref>{{cite web|url=https://www.trademinister.gov.au/minister/dan-tehan/media-release/australia-become-original-party-worlds-largest-free-trade-agreement|publisher= Australian Department of Foreign Affairs and Trade |title= Australia to become an original party to world's largest free trade agreement|date=2 November 2021|accessdate=7 November 2021}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|-
|{{flagu|Brunei}} 
| style="background-color:lightgreen" | October 11, 2021<ref>{{cite web|url=https://thescoop.co/2021/10/12/brunei-becomes-sixth-county-to-ratify-rcep/ |title=Brunei becomes sixth country to ratify RCEP |date=12 October 2021 |author=Ain Bandial |publisher=The Scoop |access-date=7 November 2021}}</ref><ref name="Burne">{{Cite web|url= https://asean2021.bn/NewsDetails?id=2bf2586e-2d76-4c71-a214-39a70e5e8300|publisher= Ministry of Foreign Affairs Brunei Darussalam |title= BRUNEI DARUSSALAM RATIFIES THE REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP (RCEP) AGREEMENT |date= 2021-10-11|accessdate= 2021-10-13}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|-
|{{flagu|Cambodia}}
| style="background-color:lightgreen" | October 15, 2021<ref name="Camb2020910">{{Cite web|url=https://www.jetro.go.jp/biznews/2021/10/28c042fdb0b9eecc.html|title=カンボジア、RCEP協定の批准および寄託手続きが完了 |date= 2021-10-26|publisher= ジェトロ |author=井上良太 |accessdate= 2021-10-26}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|-
|{{flagu|China}}
| style="background-color:lightgreen" | April 15, 2021<ref>{{Cite web|title=中国向东盟秘书长正式交存《区域全面经济伙伴关系协定》（RCEP）核准书|url=http://www.mofcom.gov.cn/article/news/202104/20210403053096.shtml|accessdate=2021-04-16|author=中華人民共和國商務部新聞辦公室|date=2021-04-16|work=中華人民共和國商務部公式サイト|publisher=中華人民共和國商務部|language=zh-cn}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|-
|{{flagu|Indonesia}}
| style="background-color:lightgreen" |November 3, 2022<ref name="Indonesia">{{Cite web|title=報道発表 インドネシア共和国による地域的な包括的経済連携（RCEP）協定の批准書の寄託|url=https://www.mofa.go.jp/mofaj/press/release/press1_001144.html|author=|accessdate=2022-11-08|language=ja|publisher=外務省|date=2022-11-07}}</ref>
| style="background-color:lightgreen" |January 2, 2023
|-
|{{flagu|Japan}}
| style="background-color:lightgreen" | June 25, 2021<ref name="Jpan20210625">{{Cite web|title=Deposit of the Instrument of Acceptance of the Regional Comprehensive Economic Partnership Agreement|url=https://www.mofa.go.jp/press/release/press1e_000202.html|access-date=2021-06-26|work=Ministry of Foreign Affairs of Japan |language=en-US}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|-
|{{flagu|South Korea}}
| style="background-color:lightgreen" | December 3, 2021<ref name="Korea">{{Cite web|title=한국, 역내포괄적경제동반자협정(RCEP) '22.2.1일 발효|url=http://www.motie.go.kr/motie/ne/presse/press2/bbs/bbsView.do?bbs_seq_n=164959&bbs_cd_n=81&currentPage=1&search_key_n=&cate_n=&dept_v=&search_val_v=|website=산업통상자원부|author=산업통상자원부|accessdate=2021-12-06|language=ko|publisher=|date=2021-12-06}}</ref>
|style="background-color:lightgreen" |February 1, 2022
|-
|{{flagu|Laos}}
| style="background-color:lightgreen" | October 26, 2021<ref name="LAO20211021">{{Cite web|title=ラオス、RCEP批准書を寄託|url=https://www.jetro.go.jp/biznews/2021/10/951336476bec297b.html|access-date=2021-10-26|work=JETRO|language=en-jp}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|-
|{{flagu|Malaysia}}
| style="background-color:lightgreen" | January 17, 2022<ref name="Malaysia">{{cite web|title=RCEP to enter into force on March 18|website=|url=https://www.nst.com.my/business/2022/01/765068/rcep-enter-force-march-18|accessdate=2022-01-26|language=en|publisher=New Straits Times|date=2022-01-22}}</ref><ref>{{Cite web|url= https://www.mofa.go.jp/mofaj/press/release/press6_001045.html|publisher= 外務省 |title= 報道発表 マレーシアによる地域的な包括的経済連携（RCEP）協定の批准書の寄託 |accessdate= 2022-01-19|date= 2022-01-18}}</ref>
| style="background-color:lightgreen" |March 18, 2022
|-
|{{flagu|Myanmar}}
| style="background-color:yellow"|August 4, 2021<ref name="Myanmar">{{cite web|title=ＲＣＥＰ批准済み＝国軍「外相」|language=ja|website=[[NNA Asia]]|url=https://www.nna.jp/news/show/2221700|accessdate=2022-09-13|date=2021-08-05}}</ref>{{sup|1}}
| style="background-color:yellow"|''delayed''{{sup|1}}
|-
|{{flagu|New Zealand}}
| style="background-color:lightgreen" | November 2, 2021<ref name="New Zealand">{{cite web|url=https://www.beehive.govt.nz/release/new-zealand-ratifies-rcep-agreement-enter-force-early-next-year|publisher= New Zealand Government |title= New Zealand ratifies RCEP, agreement to enter into force early next year|date= 3 November 2021|accessdate=2021-11-04}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|-
|{{flagu|Philippines}}
| style="background-color:lightgreen"|April 3, 2023<ref name="Philippines">{{cite web|url=https://www.mofa.go.jp/mofaj/press/release/press6_001473.html|publisher= Japan Government |title= フィリピン共和国による地域的な包括的経済連携（RCEP）協定の批准書の寄託|date=2023-04-03|accessdate=2023-04-03}}</ref>
| style="background-color:lightgreen"| June 2, 2023
|-
|{{flagu|Singapore}}
| style="background-color:lightgreen" | April 9, 2021<ref name="singapre202104">{{Cite web|url=https://www.mti.gov.sg/-/media/MTI/Newsroom/Press-Releases/2021/04/Press-Release-on-Ratification-of-the-RCEP.pdf|title=SINGAPORE RATIFIES THE REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT|access-date=2021-04-09|website=www.mti.gov.sg|archive-url=https://web.archive.org/web/20210409131706/https://www.mti.gov.sg/-/media/MTI/Newsroom/Press-Releases/2021/04/Press-Release-on-Ratification-of-the-RCEP.pdf|archive-date=9 April 2021|url-status=live}}</ref><ref name="sg20210409">{{Cite web|title=Singapore first among RCEP participating countries to ratify world's largest trade pact - The Straits Times|url=https://www.straitstimes.com/business/economy/singapore-first-among-rcep-participating-countries-to-officially-ratify-worlds|access-date=2021-04-09|website=www.straitstimes.com|date=9 April 2021}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|-
|{{flagu|Thailand}}
| style="background-color:lightgreen" |  October 28, 2021<ref name="thai20211104" /><ref name="Thai2020215">{{Cite web |title=Thailand deposited Instrument of Ratification of the RCEP Agreement |url=https://permanent-jakarta.thaiembassy.org/th/content/%E0%B9%84%E0%B8%97%E0%B8%A2%E0%B8%A2%E0%B8%B7%E0%B9%88%E0%B8%99%E0%B8%AA%E0%B8%B1%E0%B8%95%E0%B8%A2%E0%B8%B2%E0%B8%9A%E0%B8%B1%E0%B8%99%E0%B8%AA%E0%B8%B2%E0%B8%A3%E0%B9%80%E0%B8%82%E0%B9%89%E0%B8%B2%E0%B9%80%E0%B8%9B%E0%B9%87%E0%B8%99%E0%B8%A0%E0%B8%B2%E0%B8%84%E0%B8%B5%E0%B8%84%E0%B8%A7%E0%B8%B2%E0%B8%A1%E0%B8%95%E0%B8%81%E0%B8%A5%E0%B8%87-rcep-thaila?cate=5d750d2015e39c3c64006604 |website=Permanent Mission of Thailand to ASEAN |access-date=1 November 2021 |language=EN |publisher= |date=29 October 2021}}</ref><ref>{{Cite news|date=2021-11-01|title=Thailand ratifies RCEP pact|url=https://www.bangkokpost.com/business/2207255/thailand-ratifies-rcep-pact|website=Bangkok Post|publisher=|language=EN|accessdate=2021-11-01}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|-
|{{flagu|Vietnam}}
| style="background-color:lightgreen" |  October 29, 2021<ref name="thai20211104">{{Cite web|url=https://www.mfa.go.th/en/content/rcep-2?page=5d5bd3da15e39c306002aaf9&menu=5d5bd3cb15e39c306002a9b0|title=Thailand deposited Instrument of Ratification of the RCEP with ASEAN Secretariat|accessdate=2021-11-05|language=EN|publisher= Ministry of Foreign Affairs, Kingdom of Thailand.|date=2021-11-04}}</ref>
| style="background-color:lightgreen" |January 1, 2022
|}
{{small|{{sub|1}} There were concerns expressed by the ASEAN Secretariat on the legitimacy of ratification by the then-Burmese parliament. A Thai secretary also pointed that while the Myanmar government have ratified,  the Thai government is concerned about the legitimacy of the Myanmar government after the [[2021 Myanmar coup d'état|2021 coup d'état]], and whether it could meet the five-point agreement with ASEAN. Due to these concerns, Myanmar's ratification book did not show on the ASEAN official website; instead Myanmar trade officials suggest that the other ASEAN members should determine whether they can accept Myanmar's ratification book by themselves, and then announce their decision to the ASEAN Secretariat.<ref>{{Cite web|url=https://www.jetro.go.jp/biznews/2022/07/eb84600320d01bf9.html|title=タイ閣議でRCEP協定の進捗状況報告、ミャンマーでの発効は各国の判断に |date= 28 July 2021|publisher= ジェトロ |author=井上良太|language=ja |accessdate=2022-09-13}}</ref> Neverless, the China [[General Administration of Customs]] announced that the RCEP would enter into force between China and Myanmar on 1 May 2022.<ref>{{Cite web|url=http://www.customs.gov.cn/customs/302249/302270/302272/4347116/index.html|title=RCEP对缅甸生效政策解读|date=2021-07-28|publisher=General Administration of Customs of China|language=zh|accessdate=2022-09-13}}{{Dead link|date=September 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>}}

=== Applicants === 
The trade agreement is open for new members 18 months after the partnership came into force. The following countries have applied for accession into the partnership:
*{{flag|Bangladesh}}<ref>{{cite web |title=Bangladesh decides to join largest trade bloc |url=https://www.tbsnews.net/economy/bangladesh-decides-join-largest-trade-bloc-299347 |website=The Business Standard |language=en |date=7 September 2021}}</ref> 
*{{flag|Hong Kong}}<ref>{{cite web |title=Hong Kong applies to join RCEP trade agreement |url=https://asia.nikkei.com/Economy/Trade/Hong-Kong-applies-to-join-RCEP-trade-agreement |website=Nikkei Asia}}</ref> 
* {{flag|Sri Lanka}}<ref>{{cite web |title=SL to join RCEP, world's largest free trade area |url=https://www.dailymirror.lk/breaking_news/SL-to-join-RCEP-worlds-largest-free-trade-area/108-263213 |website=Daily Mirror - Sri Lanka}}</ref>
*{{flag|Chile}}:The Republic of Chile has formally requested accession to the RCEP. Claudia Sanhueza, Undersecretary of International Economic Relations, delivered the request letter to Satvinder Singh, Assistant Secretary General for the ASEAN Economic Community. <ref>{{Cite news|title=Chile inicia negociaciones con Indonesia para profundizar acuerdo comercial e ingresa solicitud de adhesión a tratado regional de países del Asia Pacífico y Oceanía|language=es|work= Chilean Government|date= 14 June 2024|url=https://www.subrei.gob.cl/sala-de-prensa/noticias/detalle-noticias/2024/06/14/chile-inicia-negociaciones-con-indonesia-para-profundizar-acuerdo-comercial}}</ref><ref>{{Cite news|title=Representa el 30% del PIB global: Chile solicita su incorporación al pacto comercial más grande del mundo|language=es|work= EMOL|date= 15 June 2024|url=https://www.emol.com/noticias/Economia/2024/06/15/1133859/chile-solicita-incorporacion-pacto-comercial.html}}</ref>

'''Potential applicants:'''

The following countries have been subject to media attention surrounding their potential involvement in the RCEP:

*{{flag|United Kingdom}}: The British [[Foreign Affairs Select Committee|Foreign Affairs Committee]] urged the [[Government of the United Kingdom|UK Government]] to assess membership of the RCEP, as part of the UK's 'Indo-Pacific tilt'.<ref>{{Cite news|title=Tilting horizons: the Integrated Review and the Indo-Pacific|language=en|work=UK Government|date= 30 August 2023|url=https://publications.parliament.uk/pa/cm5803/cmselect/cmfaff/172/report.html}}</ref><ref>{{Cite news|title=Parliament panel: Government should assess whether IPEF is right for the UK|language=en|website=InsideTrade|date= 31 August 2023|url=https://insidetrade.com/daily-news/parliament-panel-government-should-assess-whether-ipef-right-uk}}</ref>

==Contents==

RCEP aims to lower tariffs, increase investment, and facilitate freer movement of goods around the region.<ref name=":Ma&Kang" />{{Rp|page=176}} It includes unified [[rules of origin]] throughout the bloc, which may facilitate international supply chains and trade within the region.<ref name="NYTimes China-Led Trade Pact"/><ref name="FT Asia-Pacific countries sign one of the largest"/> It also prohibits certain tariffs. It does not focus on labour unions, [[environmental protection]], or [[government subsidies]].<ref name="NYTimes China-Led Trade Pact"/>

The RCEP is not as comprehensive as the [[Comprehensive and Progressive Agreement for Trans-Pacific Partnership]], another free trade agreement in the region that includes some of the same countries.<ref name="SCMP What is RCEP"/>
The RCEP "does not establish unified standards on labour and the environment, or commit countries to open services and other vulnerable areas of their economies."<ref name=ektgam/>

The tariffs schedule just for Japan is 1,334 pages long.<ref name="ektgam">{{cite news |last1=Kurtenbach |first1=Elaine |title=China, 14 other countries sign world's biggest trade pact |url=https://www.theglobeandmail.com/business/international-business/article-china-14-other-countries-sign-worlds-biggest-trade-pact/ |agency=[[The Associated Press]] |publisher=[[The Globe and Mail]] |date=15 November 2020}}</ref>

==Projected value==
[[File:2020 RCEP-15's share of global GDP.svg|thumb|480px|2020 RCEP-15's share of global GDP (%)]]
The combined GDP of potential RCEP members surpassed the combined GDP of [[Trans-Pacific Partnership|Trans-Pacific Partnership (TPP)]] members in 2007. It was suggested that continued economic growth, particularly in China and Indonesia, could see total GDP in the original RCEP membership grow to over US$100 trillion by 2050, roughly double the project size of TPP economies.<ref name=":0">{{Cite web|url=http://www.eaber.org/node/25601|title=Understanding and applying long-term GDP projections|website=eaber.org|access-date=2016-06-17|archive-date=19 May 2019|archive-url=https://web.archive.org/web/20190519115121/http://www.eaber.org/node/25601|url-status=live}}</ref> On 23 January 2017, President [[Donald Trump]] signed a memorandum withdrawing the United States from the TPP, a move which was seen to improve the chances of success for RCEP.<ref>{{cite web|url=https://www.zdnet.com/article/trump-dumping-trans-pacific-partnership/|title=Trump dumping Trans-Pacific Partnership|first=Corinne|last=Reichert|website=ZDNet.com|access-date=15 November 2020|archive-date=2 February 2017|archive-url=https://web.archive.org/web/20170202014611/http://www.zdnet.com/article/trump-dumping-trans-pacific-partnership/|url-status=live}}</ref>

According to a 2020 projection, the agreement is expected to enlarge the global economy by US$186 billion.<ref name="SCMP China declares victory as 15 nations sign">{{cite news |title=China declares victory as 15 nations sign world's biggest free-trade deal |url=https://www.scmp.com/news/china/diplomacy/article/3109939/china-declares-victory-15-asian-nations-sign-worlds-biggest |access-date=15 November 2020 |work=South China Morning Post |date=15 November 2020 |language=en |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115174515/https://www.scmp.com/news/china/diplomacy/article/3109939/china-declares-victory-15-asian-nations-sign-worlds-biggest |url-status=live }}</ref><ref name="FT Asia-Pacific countries sign one of the largest"/> According to Peter Petri and Michael Plummer of the [[Brookings Institution]], the RCEP could add $209 billion annually to world incomes, and $500 billion to world trade by 2030, and that "new agreements will make the economies of North and Southeast Asia more efficient, linking their strengths in technology, manufacturing, agriculture, and natural resources."<ref name="broo_RCEP_A"/> According to computer simulations in a related paper also by Petri and Plummer published by the [[Peterson Institute for International Economics]] (PIIE), the RCEP will raise global national incomes in 2030 by an annual $147 billion and $186 billion respectively, "yield especially large benefits for China, Japan, and South Korea and losses for the United States and India, and "will be especially valuable because it strengthens East Asian interdependence, raising trade among members by $428 billion and reducing trade among nonmembers by $48 billion".<ref name="PIIE US Decouples">{{cite report |title=East Asia decouples from the United States: Trade war, COVID-19, and East Asia's new trade blocs |author-last1 = Petri |author-first1 = Peter A. |author-last2 = Plummer |author-first2 = Michael G. |url=https://www.piie.com/publications/working-papers/east-asia-decouples-united-states-trade-war-covid-19-and-east-asias-new |access-date=13 February 2021 |publisher=[[Peterson Institute for International Economics]] |type=Working paper|date=June 2020 |language=en}}</ref>

The simulations in Petri and Plummer's PIIE paper showed that the RCEP and the [[Comprehensive and Progressive Agreement for Trans-Pacific Partnership]] (CPTPP) would together more than offset the global negative economic effects of the China-United States trade war, but not the individual losses of China and the United States. Moreover, the incremental value of the CPTPP will be reduced by the trade war (from $147 billion to $121 billion) while the value of RCEP will be increased (from $186 billion to $209 billion). The PIIE working paper also stated that "RCEP will be economically significant with or without India, and indeed more significant than the CPTPP, with especially important benefits for China, Japan, and Korea" and that "RCEP will reorient trade and economic ties away from global linkages toward regionally focused relationships in East Asia."<ref name="PIIE US Decouples"/>

According to the [[Asian Development Bank]] (ADB), the RCEP is "relatively comprehensive in coverage" and combines existing deals, which brings Asia a step closer to a region-wide trading bloc. The agreement further liberalises goods and services trade, establishes common rules of origin for all goods traded, establishes commitments regarding government procurement, and aims to establish open and competitive markets. Though the degree of liberalisation within RCEP is not as deep as in the CPTPP, RCEP members are projected to gain $174 billion in real income by 2030, equivalent to 0.4% of the members' aggregate GDP. China, Korea and Japan will benefit the most, with likely gains of $85 billion for China, $48 billion for Japan, and $23 billion for Korea. Other significant RCEP gains will accrue to Indonesia, Malaysia, Thailand, and Vietnam.<ref name="ADB contribution">{{cite news |title=Regional Comprehensive Economic Partnership: Overview and Economic Impact |url=https://www.adb.org/sites/default/files/publication/664096/adb-brief-164-regional-comprehensive-economic-partnership.pdf |access-date=13 February 2021 |work=Asian Development Bank|date=December 2020 |language=en |archive-url=https://web.archive.org/web/20210428034340/https://www.adb.org/sites/default/files/publication/664096/adb-brief-164-regional-comprehensive-economic-partnership.pdf |archive-date=28 April 2021 |url-status=live }} [[File:CC-BY icon.svg|50px]] Text was copied from this source, which is available under a [https://creativecommons.org/licenses/by/3.0/igo/ Creative Commons Attribution 3.0 IGO (CC BY 3.0 IGO)] license.</ref> Due to their RCEP membership, Japan and Korea would accrue gains amounting to 1% of their GDP while Malaysia, Thailand, Vietnam and Brunei would all accrue gains of 0.5% of GDP or higher.<ref name="Bangkok Post trade">{{cite news |title=Trade tonic |url=https://www.bangkokpost.com/business/2056567/trade-tonic |access-date=13 February 2021 |work=Bangkok Post|date=25 January 2021 |language=en}}</ref>

New Zealand's [[Ministry of Foreign Affairs and Trade (New Zealand)|Ministry of Foreign Affairs and Trade]] stated that the RCEP is projected to add $186 billion to the world economy and increase New Zealand's GDP by around $2.0 billion. The RCEP members took 56% of New Zealand's total exports, representing 61% of New Zealand's goods exports (worth $36.6 billion) and 45% of New Zealand's services exports (worth $11.8 billion). According to the ministry, "RCEP delivers improved market access for New Zealand services exporters and investors in some RCEP markets that go beyond existing FTAs. Under RCEP, New Zealand services exporters and investors will, for the first time, benefit from market access commitments from China and ASEAN countries that are not party to the CPTPP".<ref name="NZ MFAT">{{cite news |title=Regional Comprehensive Economic Partnership |url=https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-concluded-but-not-in-force/regional-comprehensive-economic-partnership-rcep/rcep-overview |access-date=13 February 2021 |work=Ministry of Foreign Affairs and Trade (New Zealand)|language=en}}</ref> Following the signing of the RCEP, New Zealand and China signed a deal to further expand their existing free-trade agreement. The expanded deal provides for tariffs to be either removed or cut on many of New Zealand's mostly commodities-based exports, ranging from dairy to timber and seafood, while compliance costs will also be reduced. The deal also opens up sectors such as aviation, education and finance.<ref name="China-NZ expand">{{cite news |title=China, New Zealand agree to expand free trade agreement |url=https://www.straitstimes.com/asia/east-asia/china-new-zealand-agree-to-expand-free-trade-agreement |access-date=13 February 2021 |work=Straits Times |date=January 26, 2021 |language=en}}</ref>

[[Huang Qifan]], former mayor of [[Chongqing]], stated that with the implementation of RCEP, China and RCEP countries will form an increasingly close industrial chain and [[supply chain]] connection, and in the future, there will be a variety of [[Production (economics)|production]] and [[marketing]] models such as "in China, for China", "in China, for RCEP", "in RCEP, for the world". At that time, China's large [[Market (economics)|market]] superimposed RCEP large market, China's [[dual circulation]] superimposed RCEP great circulation, "will profoundly change the world industrial chain supply chain layout".<ref>{{cite web|url=https://www.jfdaily.com/staticsg/wap/newsDetail?id=596393|title=黄奇帆今天重磅发言！谈"脱钩断链"和"孔雀东南飞"|work=Shanghai Observer|date=2023-03-25|language=zh-cn}}</ref>

==History==
[[File:2018 RCEP-15 BoP - Net trade in goods and services, in billions of U.S. dollars.svg|thumb|460px|2018 RCEP-15 trade balances, in billions of U.S. dollars]]

'''2011'''
* August 2011, East Asia Summit Economic Ministers welcomed a Chinese and Japanese joint 'Initiative on Speeding up the Establishment of EAFTA and CEPEA'.<ref>{{Cite web |url=https://dfat.gov.au/trade/agreements/negotiations/rcep/Pages/background-to-the-regional-comprehensive-economic-partnership-rcep-initiative.aspx |title=Background to the Regional Comprehensive Economic Partnership (RCEP) Initiative |access-date=2019-11-02 |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115174514/https://www.dfat.gov.au/trade/agreements/negotiations/rcep/Pages/background-to-the-regional-comprehensive-economic-partnership-rcep-initiative |url-status=live }}</ref>
* During the 19th ASEAN Summit held 14–19 November 2011 in [[Bali]], Indonesia, the Regional Comprehensive Economic Partnership (RCEP) was introduced.<ref name="asean19">{{Cite web|url=http://www.asean.org/news/item/asean-structure-asean-summit|archive-url=https://web.archive.org/web/20130629110759/http://www.asean.org/news/item/asean-structure-asean-summit |url-status=dead|title=Nineteenth ASEAN Summit, Bali, Indonesia {{!}} 14–19 November 2011 |archive-date=29 June 2013}}</ref>

'''2012'''
* The 44th ASEAN Economic Ministers (AEM) Meeting and Related Meetings were held in Siem Reap, Cambodia, 25 August – 1 September 2012.<ref>{{cite web|url=http://english.cntv.cn/program/newsupdate/20120901/101251.shtml|title=ASEAN plus 6 agree to start RCEP talks – CCTV News|website=english.cntv.cn|access-date=15 November 2020|archive-date=26 December 2012|archive-url=https://web.archive.org/web/20121226094053/http://english.cntv.cn/program/newsupdate/20120901/101251.shtml|url-status=live}}</ref>
* Leaders at the 21st ASEAN Summit held 18–20 November 2012 in Phnom Penh, Cambodia endorsed the framework of RCEP and announced the launch of their negotiations.<ref name=Announcement>{{Cite web|url=http://www.meti.go.jp/english/press/2012/1120_02.html |archive-url=https://web.archive.org/web/20131014130209/http://www.meti.go.jp/english/press/2012/1120_02.html |url-status=dead |title=Announcement of the Launch of Negotiations for the Regional Comprehensive Economic Partnership (RCEP) Ministry of Economy, Trade and Industry Japan 20 November 2012|archive-date=14 October 2013}}</ref>

'''2013'''
*The first round of RCEP negotiation was held on 9–13 May 2013 in Brunei.<ref name="Joint Statement">{{cite web|url=http://www.asean.org/news/asean-statement-communiques/item/regional-comprehensive-economic-partnership-rcep-joint-statement-the-first-meeting-of-trade-negotiating-committee|title= Regional Comprehensive Economic Partnership (RCEP) Joint Statement The First Meeting of Trade Negotiating Committee|date=10 May 2013 |archive-url=https://web.archive.org/web/20150219224756/http://www.asean.org/news/asean-statement-communiques/item/regional-comprehensive-economic-partnership-rcep-joint-statement-the-first-meeting-of-trade-negotiating-committee |archive-date=19 February 2015 |url-status=dead}}</ref>
* The second round of RCEP negotiation was held on 23–27 September 2013 in Brisbane, Australia.<ref>{{Cite web|url=http://www.dfat.gov.au/media/releases/department/2013/dfat-release-20131003.html|archive-url=https://web.archive.org/web/20131003141637/http://www.dfat.gov.au/media/releases/department/2013/dfat-release-20131003.html|url-status=dead|title=Australia hosts second round of Regional Comprehensive Economic Partnership (RCEP) Negotiations in Brisbane|archive-date=3 October 2013}}</ref>

'''2014'''
* The third round of RCEP negotiation was held on 20–24 January 2014 in Kuala Lumpur, Malaysia.<ref>{{Cite web|url=http://www.miti.gov.my/cms/content.jsp?id=com.tms.cms.article.Article_d1241f52-c0a8156f-72974691-4887df24|archive-url=https://web.archive.org/web/20140222040611/http://www.miti.gov.my/cms/content.jsp?id=com.tms.cms.article.Article_d1241f52-c0a8156f-72974691-4887df24|url-status=dead|title=Media Release: 3rd Meeting of the RCEP Trade Negotiation Committee 20–24 January 2014, Kuala Lumpur, Malaysia |date= 27 Jan 2014 |publisher=The Ministry of International Trade and Industry, Malaysia|archive-date=22 February 2014}}</ref>
*The fourth round of RCEP negotiation was held on 31 March – 4 April 2014 in [[Nanning]], China.<ref>{{cite web|url=http://www.meti.go.jp/english/press/2014/0404_01.html|title=Fourth Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|publisher=Joint press release of Japanese Ministry of Economy, Trade, and Industry with the Ministry of Foreign Affairs|date=2014-04-04|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174512/https://www.meti.go.jp/english/press/2014/0404_01.html|url-status=live}}</ref>
*The fifth round of RCEP negotiation was held on 21–27 June 2014 in Singapore.<ref>{{cite web| url=http://www.moit.gov.vn/en/News/628/5th-negotiation-of-regional-comprehensive-economic-partnership-agreement-%28rcep%29.aspx |title=5th negotiation of Regional Comprehensive Economic Partnership Agreement (RCEP) | publisher=Ministry of Industry and Trade of the Socialist Republic of Vietnam |date=30 June 2014 |access-date=20 December 2015 |archive-url=https://web.archive.org/web/20151222104412/http://www.moit.gov.vn/en/News/628/5th-negotiation-of-regional-comprehensive-economic-partnership-agreement-%28rcep%29.aspx | archive-date=22 December 2015 |url-status=dead |df=dmy-all}}</ref>
*The sixth round of RCEP negotiation and related meetings was held on 1–5 December 2014 in New Delhi, India.<ref>{{cite web|url=http://commerce.nic.in/MOC/press_release.asp?id=3134|title=Department of commerce|website=commerce.nic.in|access-date=15 November 2020|archive-date=18 December 2014|archive-url=https://web.archive.org/web/20141218095217/http://commerce.nic.in/MOC/press_release.asp?id=3134|url-status=live}}</ref>

'''2015'''
*The seventh round of RCEP negotiation was held on 9–13 February 2015 in Bangkok, Thailand. An expert group on electronic commerce met during this round. The Asian Trade Centre (based in Singapore) submitted a proposal regarding an e-Commerce chapter and gave a presentation on the paper.<ref>{{cite web|title=Seventh Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP) to be held in Thailand|url=https://www.mofa.go.jp/press/release/press4e_000614.html|website=Ministry of Foreign Affairs of Japan|date=5 February 2015|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174517/https://www.mofa.go.jp/press/release/press4e_000614.html|url-status=live}}</ref>
*The eighth round of RCEP negotiation was held on 5–13 June 2015 in Kyoto, Japan.<ref>{{cite web|title=Eighth Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP) to be held in Kyoto|url=https://www.mofa.go.jp/press/release/press4e_000767.html|website=Ministry of Foreign Affairs of Japan|date=4 June 2015|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174455/https://www.mofa.go.jp/press/release/press4e_000767.html|url-status=live}}</ref>
*The ninth round of RCEP negotiation was held on 3–7 August 2015 in Nay Pyi Taw, Myanmar.<ref>{{cite web|title=Ninth Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP) to be held in Myanmar|url=https://www.mofa.go.jp/press/release/press4e_000821.html|website=Ministry of Foreign Affairs of Japan|date=30 July 2015|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174522/https://www.mofa.go.jp/press/release/press4e_000821.html|url-status=live}}</ref>
*The tenth round of RCEP negotiation was held on 12–16 October 2015 in Busan, South Korea. The meetings took place at BEXCO (Busan's Convention and Exhibition Centre). This round included the first region wide stakeholder meeting (organised by the Singapore-based Asian Trade Centre) which involved an informal meeting between government officials and business representatives over lunch followed by an afternoon seminar focused on what RCEP can do to help business operate in the e-Commerce space.<ref>{{cite web|title=Tenth Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP) to be held in Korea|url=https://www.mofa.go.jp/press/release/press4e_000881.html|website=Ministry of Foreign Affairs of Japan|date=8 October 2015|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174604/https://www.mofa.go.jp/press/release/press4e_000881.html|url-status=live}}</ref>

'''2016'''
*The eleventh round of RCEP negotiation was held on 14–19 February 2016 in Bandar Seri Begawan, Brunei.<ref>{{Cite web|url=http://fta.mofcom.gov.cn/enarticle/rcepen/enrcepnews/201603/30820_1.html|title=China FTA Network|website=fta.mofcom.gov.cn|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174524/http://fta.mofcom.gov.cn/enarticle/rcepen/enrcepnews/201603/30820_1.html|url-status=live}}</ref>
*The twelfth round of negotiation of RCEP was held on 17–29 April 2016 in Perth, Australia.<ref>{{cite web | url= http://english.mofcom.gov.cn/article/newsrelease/significantnews/201605/20160501312566.shtml | title= The 12th Round of Negotiation of Regional Comprehensive Economic Partnership (RCEP) Held in Perth | access-date= 15 November 2020 | archive-date= 15 November 2020 | archive-url= https://web.archive.org/web/20201115174601/http://english.mofcom.gov.cn/article/newsrelease/significantnews/201605/20160501312566.shtml | url-status= live }}</ref>
*The thirteenth round of RCEP negotiation was held on 12–18 June 2016 in Auckland, New Zealand.<ref>{{cite web|title=Thirteenth Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP) to be held in Auckland|url=https://www.mofa.go.jp/press/release/press4e_001174.html|website=Ministry of Foreign Affairs of Japan|date=8 June 2016|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174524/https://www.mofa.go.jp/press/release/press4e_001174.html|url-status=live}}</ref>
*The fourteenth round of RCEP negotiation was held on 15–18 August 2016 in Vietnam.<ref>{{cite web|title=14th Round of Negotiations for Regional Comprehensive Economic Partnership(RCEP)|url=https://www.mofa.go.jp/press/release/press4e_001238.html|website=Ministry of Foreign Affairs of Japan|date=10 August 2016|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174603/https://www.mofa.go.jp/press/release/press4e_001238.html|url-status=live}}</ref>
*The fifteenth round of RCEP negotiation was held on 11–22 October 2016 in Tianjin, China.<ref>{{cite web|url=http://english.mofcom.gov.cn/article/newsrelease/significantnews/201608/20160801383647.shtml|title=The 14th Round of Negotiation of Regional Comprehensive Economic Partnership Held in Ho Chi Minh City, Vietnam|website=english.mofcom.gov.cn|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174526/http://english.mofcom.gov.cn/article/newsrelease/significantnews/201608/20160801383647.shtml|url-status=live}}</ref>
*The sixteenth round of negotiations of RCEP was held on 6–10 December 2016 in Tangerang, Indonesia.<ref>{{cite web|title=16th Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_001380.html|website=Ministry of Foreign Affairs of Japan|date=1 December 2016|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174607/https://www.mofa.go.jp/press/release/press4e_001380.html|url-status=live}}</ref>

'''2017'''
*The seventeenth round of negotiations of RCEP was held on 27 February – 3 March 2017 in Kobe, Japan.<ref>{{cite web|title=17th Round of Negotiations for Regional Comprehensive Economic Partnership(RCEP)|url=https://www.mofa.go.jp/press/release/press4e_001485.html|website=Ministry of Foreign Affairs of Japan|date=22 February 2017|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174525/https://www.mofa.go.jp/press/release/press4e_001485.html|url-status=live}}</ref>
*The eighteenth round of RCEP negotiation was held on 8–12 May 2017 in Manila, Philippines.<ref>{{cite web |url=https://www.dti.gov.ph/media/latest-news/10511-asean-fta-partners-meet-for-rcep-in-manila |title=Archived copy |website=www.dti.gov.ph |access-date=15 January 2022 |archive-url=https://web.archive.org/web/20210226193552/https://www.dti.gov.ph/media/latest-news/10511-asean-fta-partners-meet-for-rcep-in-manila |archive-date=26 February 2021 |url-status=dead}}</ref>
*The nineteenth round of RCEP negotiation was held on 24–28 July 2017 in Hyderabad, India.<ref>{{cite news|last1=S|first1=Arun|title=India pressed to open up procurement|url=http://www.thehindu.com/business/india-pressed-to-open-up-procurement/article19366016.ece|website=The Hindu|date=27 July 2017|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174526/https://www.thehindu.com/business/india-pressed-to-open-up-procurement/article19366016.ece|url-status=live}}</ref>
*The twentieth round of RCEP negotiation was held on 17–28 October 2017 in Incheon, Korea.<ref>{{cite web|title=20th Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_001754.html|website=Ministry of Foreign Affairs of Japan|date=12 October 2017|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174525/https://www.mofa.go.jp/press/release/press4e_001754.html|url-status=live}}</ref>
*The first RCEP summit was held on 14 November 2017 in Manila, Philippines.<ref name="auto">{{cite news|title=Najib: RCEP likely to be signed in Nov 2018|url=http://www.themalaymailonline.com/malaysia/article/najib-rcep-likely-to-be-signed-in-nov-2018#kLhIUr0450ITuVJx.97|date=15 November 2017|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174529/https://www.malaymail.com/news/malaysia/2017/11/15/najib-rcep-likely-to-be-signed-in-nov-2018/1510539#kLhIUr0450ITuVJx.97|url-status=live}}</ref><ref>{{cite news|title=Now push RCEP, Abe-san|url=http://www.straitstimes.com/opinion/now-push-rcep-abe-san|work=The Straits Times|date=24 November 2017|language=en|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174527/https://www.straitstimes.com/opinion/now-push-rcep-abe-san|url-status=live}}</ref>

'''2018'''
*The twenty-first round of RCEP negotiation was held on 2–9 February 2018 in Yogyakarta, Indonesia.<ref>{{cite web|title=21st Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_001883.html|website=Ministry of Foreign Affairs of Japan|date=29 January 2018|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174528/https://www.mofa.go.jp/press/release/press4e_001883.html|url-status=live}}</ref>
*The twenty-second round of RCEP negotiation was held on 28 April – 8 May 2018 in Singapore.<ref>{{cite web|title=22nd Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002009.html|website=Ministry of Foreign Affairs of Japan|date=25 April 2018|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174557/https://www.mofa.go.jp/press/release/press4e_002009.html|url-status=live}}</ref>
*The twenty-third round of RCEP negotiation was held on 17–27 July 2018 in Bangkok, Thailand.<ref>{{cite web|title=23rd Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002103.html|website=Ministry of Foreign Affairs of Japan|date=12 July 2018|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174528/https://www.mofa.go.jp/press/release/press4e_002103.html|url-status=live}}</ref>
*August–October 2018, a series of ministerial meeting in Singapore and Auckland.<ref>{{cite web|url=https://www.livemint.com/Politics/zW2jfnWbA20jrV3CTK0IBO/India-wins-key-concession-on-services-at-RCEP-Singapore-Mini.html|title=India wins key concession on services at RCEP Singapore Ministerial|author=Livemint|date=5 Sep 2018|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174528/https://www.livemint.com/Politics/zW2jfnWbA20jrV3CTK0IBO/India-wins-key-concession-on-services-at-RCEP-Singapore-Mini.html|url-status=live}}</ref>
*The twenty-fourth round of RCEP negotiation was held on 18–27 October 2018 in Auckland, New Zealand.<ref>{{cite web|title=24th Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002189.html|website=Ministry of Foreign Affairs of Japan|date=16 October 2018|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174531/https://www.mofa.go.jp/press/release/press4e_002189.html|url-status=live}}</ref>
*14 November 2018, a leaders' summit in Singapore was scheduled.<ref>{{cite web|title=Regional Comprehensive Economic Partnership (RCEP) Summit|url=https://www.mofa.go.jp/ecm/ep/page25e_000267.html|website=Ministry of Foreign Affairs of Japan|date=14 November 2018|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174530/https://www.mofa.go.jp/ecm/ep/page25e_000267.html|url-status=live}}</ref><ref name="auto1">{{cite web|url=https://www.scmp.com/news/china/diplomacy/article/2162395/japans-relations-china-back-normal-track-says-shinzo-abe|title=US trade war and Japan push raise prospects for China-backed Asia free-trade deal|author=South China Morning Post|date=3 Sep 2018|access-date=15 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174539/https://www.scmp.com/news/china/diplomacy/article/2162395/japans-relations-china-back-normal-track-says-shinzo-abe|url-status=live}}</ref>

'''2019'''
*The twenty-fifth round of RCEP negotiations was held from 19 to 28 February in Bali, Indonesia.<ref>{{cite web|title=25th Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002335.html|website=Ministry of Foreign Affairs of Japan|date=February 14, 2019|access-date=28 May 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174534/https://www.mofa.go.jp/press/release/press4e_002335.html|url-status=live}}</ref>
*2 March 2019, a ministerial meeting of RCEP trade ministers held in Cambodia. The ministers agreed to intensify engagement for the remainder of the year (including by convening more inter-sessional meetings).<ref>{{cite web|title=Seventh Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting|url=https://www.mofa.go.jp/press/release/press4e_002354.html|website=Ministry of Foreign Affairs of Japan|date=1 March 2019|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174536/https://www.mofa.go.jp/press/release/press4e_002354.html|url-status=live}}</ref>
*Senior officials held inter-sessional meetings starting 24 May 2019 in Bangkok, Thailand to iron out issues pertaining to the goods and services sector.<ref>{{Cite news|url=https://www.business-standard.com/article/pti-stories/senior-officials-of-rcep-countries-to-meet-in-bangkok-on-may-24-119042200470_1.html|title=Senior officials of RCEP countries to meet in Bangkok on May 24|newspaper=Business Standard India|date=22 April 2019|via=Business Standard|access-date=19 May 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174540/https://www.business-standard.com/article/pti-stories/senior-officials-of-rcep-countries-to-meet-in-bangkok-on-may-24-119042200470_1.html|url-status=live|agency=Press Trust of India}}</ref>
*The twenty-sixth round of RCEP negotiations was held on 3 July 2019 in Melbourne, Australia.<ref>{{cite web|title=26th Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002482.html|website=Ministry of Foreign Affairs of Japan|date=18 June 2019|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174603/https://www.mofa.go.jp/press/release/press4e_002482.html|url-status=live}}</ref>
*The twenty-seventh round of RCEP negotiations was held in Zhengzhou, China from 22 to 31 July 2019.<ref>{{cite web|title=27th Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002554.html|website=Ministry of Foreign Affairs of Japan|date=19 July 2019|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174547/https://www.mofa.go.jp/press/release/press4e_002554.html|url-status=live}}</ref>
* 2–3 August 2019, a ministerial meeting of RCEP trade ministers was held in Beijing, China.<ref>{{cite web|title=Eighth Regional Comprehensive Economic Partnership (RCEP) Intersessional Ministerial Meeting|url=https://www.mofa.go.jp/press/release/press4e_002565.html|website=Ministry of Foreign Affairs of Japan|date=1 August 2019|access-date=27 August 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174538/https://www.mofa.go.jp/press/release/press4e_002565.html|url-status=live}}</ref>
*3rd RCEP summit was held once again on 31 October – 3 November 2019 in Thailand with 35th ASEAN summit on same day.
*The twenty-eighth round of RCEP negotiations was held in Danang, Vietnam from 19 to 27 September 2019.<ref>{{cite web|title=28th Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002627.html|website=Ministry of Foreign Affairs of Japan|date=September 17, 2019|access-date=28 May 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174538/https://www.mofa.go.jp/press/release/press4e_002627.html|url-status=live}}</ref>
*India opts out of RCEP on 4 November 2019 in ASEAN+3 summit, citing, according to its view, the adverse effect the deal would have on its citizens.<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/economy/foreign-trade/india-decides-to-opt-out-of-rcep-says-key-concerns-not-addressed/articleshow/71896848.cms|title=India decides to opt out of RCEP, says key concerns not addressed|date=2019-11-04|work=The Economic Times|access-date=2019-11-04|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174539/https://economictimes.indiatimes.com/news/economy/foreign-trade/india-decides-to-opt-out-of-rcep-says-key-concerns-not-addressed/articleshow/71896848.cms|url-status=live}}</ref> In light of India's departure, Japan and China called on India to rejoin the partnership.<ref>{{Cite web|url=https://www.washingtonpost.com/business/whats-the-rcep-and-what-happened-to-the-tpp/2019/11/04/2c1a5a8c-ff38-11e9-8341-cc3dce52e7de_story.html|title=Analysis &#124; What's the RCEP and What Happened to the TPP?|first=Enda Curran |last=Bloomberg|via=www.washingtonpost.com|access-date=5 November 2019|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174626/https://www.washingtonpost.com/|url-status=dead}}</ref><ref>{{Cite news|url=https://www.japantimes.co.jp/news/2019/11/05/asia-pacific/asian-rcep-nations-effectively-give-year-end-goal-free-trade-deal/|title=India's exit from RCEP leaves Japan and China unsure about future direction of free trade pact|date=2019-11-05|work=The Japan Times Online|access-date=2019-11-10|language=en-US|issn=0447-5763|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174613/https://www.japantimes.co.jp/news/2019/11/05/asia-pacific/asian-rcep-nations-effectively-give-year-end-goal-free-trade-deal/|url-status=live}}</ref>

'''2020'''
*The twenty-ninth round of RCEP negotiations was held from 20 to 24 April 2020 as a video conference, due to the current situation regarding COVID-19.<ref>{{cite web|title=29th Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002798.html|website=Ministry of Foreign Affairs of Japan|date=April 16, 2020|access-date=28 May 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174542/https://www.mofa.go.jp/press/release/press4e_002798.html|url-status=live}}</ref>
*On 30 April 2020, Joint Statement of the 29th RCEP Trade Committee (RCEP TNC) Meeting was issued.<ref>{{cite web|title=Joint Statement of the 29th Regional Comprehensive Economic Partnership Trade Negotiating Committee (RCEP TNC) Meeting|url=https://www.mofa.go.jp/press/release/press1e_000150.html|website=Ministry of Foreign Affairs of Japan|date=April 30, 2020|access-date=28 May 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174543/https://www.mofa.go.jp/press/release/press1e_000150.html|url-status=live}}</ref>
*The thirtieth round of RCEP negotiations was held from 15 to 20 May 2020 as a video conference, due to the current situation regarding COVID-19 disease.<ref>{{cite web|title=30th Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002808.html|website=Ministry of Foreign Affairs of Japan|date=May 13, 2020|access-date=28 May 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174543/https://www.mofa.go.jp/press/release/press4e_002808.html|url-status=live}}</ref>
*The tenth RCEP Inter-sessional Ministerial Meeting held in the form of a video conference on 23 June 2020.<ref>{{cite web|title=RCEP members determined to sign deal in November|url=https://www.asean2020.vn/xem-chi-tiet1/-/asset_publisher/ynfWm23dDfpd/content/rcep-members-determined-to-sign-deal-in-november|website=National ASEAN 2020 Committee|date=May 13, 2020|access-date=24 June 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174554/https://www.asean2020.vn/xem-chi-tiet1/-/asset_publisher/ynfWm23dDfpd/content/rcep-members-determined-to-sign-deal-in-november|url-status=live}}</ref> The officials reiterated their determination to sign the RCEP at the fourth RCEP Summit in November.
*The thirty-first round of RCEP negotiation was held on 9 July 2020 as a video conference, due to the current situation regarding COVID-19 disease.<ref>{{cite web|title=31st Round of Negotiations for Regional Comprehensive Economic Partnership (RCEP)|url=https://www.mofa.go.jp/press/release/press4e_002857.html|website=Ministry of Foreign Affairs of Japan|date=July 7, 2020|access-date=9 July 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174601/https://www.mofa.go.jp/press/release/press4e_002857.html|url-status=live}}</ref>
*The Eighth Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting was held on 27 August 2020 as a video conference, due to the current situation regarding COVID-19 disease.<ref>{{cite web|title=Eighth Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting|url=https://www.mofa.go.jp/press/release/press4e_002884.html|website=Ministry of Foreign Affairs of Japan|date=August 25, 2020|access-date=7 September 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174603/https://www.mofa.go.jp/press/release/press4e_002884.html|url-status=live}}</ref> The Ministers issued a Joint Media Statement welcoming the progress made towards finalising the Agreement for signature.<ref>{{cite web|title=8th Virtual Ministerial Meeting, 27 August 2020|url=https://www.dfat.gov.au/trade/agreements/negotiations/rcep/news/8th-virtual-ministerial-meeting-27-august-2020|website=Australian Government Department of Foreign Affairs and Trade|date=August 27, 2020|access-date=7 September 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174614/https://www.dfat.gov.au/trade/agreements/negotiations/rcep/news/8th-virtual-ministerial-meeting-27-august-2020|url-status=live}}</ref>
*The Eleventh RCEP Inter-sessional Ministerial Meeting held in the form of a video conference on 14 October 2020.<ref>{{cite web|title=Eleventh Regional Comprehensive Economic Partnership (RCEP) Intersessional Ministerial Meeting|url=https://www.mofa.go.jp/press/release/press4e_002935.html|website=Ministry of Foreign Affairs of Japan|date=October 13, 2020|access-date=14 October 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174607/https://www.mofa.go.jp/press/release/press4e_002935.html|url-status=live}}</ref>
*Preparatory RCEP Ministerial Meeting held in the form of a video conference on 11 November 2020.<ref>{{cite web|title=Preparatory Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting to be Held|url=https://www.meti.go.jp/english/press/2020/1110_001.html|website=Ministry of Economy, Trade and Industry of Japan|date=November 10, 2020|access-date=12 November 2020|archive-date=15 November 2020|archive-url=https://web.archive.org/web/20201115174553/https://www.meti.go.jp/english/press/2020/1110_001.html|url-status=live}}</ref>
*The RCEP was signed on 15 November 2020,<ref name="Sign1"/><ref name="Sign2"/> in an unusual ceremony that saw the 15 member countries participate by video link due to the [[COVID-19 pandemic]].<ref name="NYTimes China-Led Trade Pact">{{cite news |last1=Bradsher |first1=Keith |last2=Swanson |first2=Ana |title=China-Led Trade Pact Is Signed, in Challenge to U.S. |url=https://www.nytimes.com/2020/11/15/business/china-trade-rcep.html |access-date=15 November 2020 |work=The New York Times |date=15 November 2020 |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115174603/https://www.nytimes.com/2020/11/15/business/china-trade-rcep.html |url-status=live }}</ref>

'''2021'''
*On 9 April 2021, Singapore ratified RCEP agreement and deposited its instrument of ratification with the Secretary-General of ASEAN. Singapore is the first RCEP Participating Country (RPC) to complete the official ratification process.<ref name="sg202104">{{cite web|title=SINGAPORE RATIFIES THE REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT
|url=https://www.mti.gov.sg/-/media/MTI/Newsroom/Press-Releases/2021/04/Press-Release-on-Ratification-of-the-RCEP.pdf|website=MINISTRY OF TRADE AND INDUSTRY of Singapore|date=9 April 2021|access-date=13 April 2021|archive-date=12 April 2021|archive-url=https://web.archive.org/web/20210412022750/https://www.mti.gov.sg/-/media/MTI/Newsroom/Press-Releases/2021/04/Press-Release-on-Ratification-of-the-RCEP.pdf|url-status=live}}</ref>
*On 15 April 2021, China deposited the instrument of ratification with the ASEAN secretary-general, marking the completion of the ratification process for the Regional Comprehensive Economic Partnership (RCEP) Agreement.<ref>{{Cite web|url=https://www.china-briefing.com/news/ratification-status-rcep-expected-timeline-china-thailand-already-ratified/|title=What is the Ratification Status of the RCEP Agreement and when Will it Come into Effect?|date=30 April 2021}}</ref>
*On 25 June 2021, Japan deposited the instrument of acceptance of the Regional Comprehensive Economic Partnership Agreement with the depositary, the Secretary-General of ASEAN.<ref name="Jpan20210625" />
*On 11 October 2021, Brunei Darussalam ratified the Regional Comprehensive Economic Partnership (RCEP) agreement upon depositing its instrument of ratification with the Secretary-General of ASEAN.<ref name="Burne" />
*On 15 October 2021, Cambodia ratified the Regional Comprehensive Economic Partnership (RCEP) agreement upon depositing its instrument of ratification with the Secretary-General of ASEAN.<ref name="Camb2020910" />
*On 28 October 2021, the Permanent Mission of Thailand to ASEAN deposited the Instrument of Ratification of the Regional Comprehensive Economic Partnership (RCEP) Agreement with the Secretary-General of ASEAN.<ref name="Thai2020215" />
*On 29 October 2021, Vietnam ratified the Regional Comprehensive Economic Partnership (RCEP) agreement upon depositing its instrument of ratification with the Secretary-General of ASEAN.<ref name="thai20211104" />
*On 2 November 2021, Australia and New Zealand deposited the instruments of ratification with the Secretary-General of ASEAN.<ref name="aus nz"/>
*On 3 December 2021, Republic of Korea ratified the Regional Comprehensive Economic Partnership (RCEP) agreement upon depositing its instrument of ratification with the Secretary-General of ASEAN.<ref name="Korea" />

'''2022'''
*On 1 January 2022, the Regional Comprehensive Economic Partnership (RCEP) agreement took effect for the first ten ratifying countries.<ref name="aus nz" />
*On 17 January 2022, Malaysia ratified the Regional Comprehensive Economic Partnership (RCEP) agreement upon depositing its instrument of ratification with the Secretary-General of ASEAN.<ref name="Malaysia" />
*On 1 February 2022, the Regional Comprehensive Economic Partnership (RCEP) agreement took effect for Republic of Korea.<ref name="Korea" />
*On 21 February 2022, Brian Lo, the Director General of [[Trade and Industry Department|Trade and Industry]] said that Hong Kong has submitted an application to join Regional Comprehensive Economic Partnership agreement.<ref>{{Cite web|date=2022-02-23|title=Hong Kong applies to join RCEP trade agreement|url=https://www.bangkokpost.com/business/2268871/hong-kong-applies-to-join-rcep-trade-agreement|access-date=2022-02-26|website=[[Bangkok Post]]}}</ref>
*On 18 March 2022, the Regional Comprehensive Economic Partnership (RCEP) agreement took effect for Malaysia.<ref name="Malaysia" />
*On 1 May 2022, the Regional Comprehensive Economic Partnership (RCEP) agreement took effect between China and Myanmar.<ref>{{cite web |title=海关总署公告2022年第36号（关于《区域全面经济伙伴关系协定》对缅甸实施有关事宜的公告） |url=http://www.customs.gov.cn/customs/302249/2480148/4322398/index.html |website=General Administration of Customs of the People's Republic of China |language=zh }}{{Dead link|date=September 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>
*On 3 November  2022, Indonesia ratified the Regional Comprehensive Economic Partnership (RCEP) agreement upon depositing its instrument of ratification with the Secretary-General of ASEAN.<ref name="Indonesia" />

'''2023'''
*On 2 January 2023, the Regional Comprehensive Economic Partnership (RCEP) agreement took effect for Indonesia.<ref name="Indonesia" />
*On 3 April  2023, Philippines ratified the Regional Comprehensive Economic Partnership (RCEP) agreement upon depositing its instrument of ratification with the Secretary-General of ASEAN.<ref name="Philippines"/> 
*On 2 June 2023, the Regional Comprehensive Economic Partnership (RCEP) agreement took effect for Philippines.<ref name="Philippines"/>

== Reactions ==

=== Positive ===
When the RCEP was signed, Chinese premier [[Li Keqiang]] declared it "a victory of multilateralism and free trade".<ref name="SCMP China declares victory as 15 nations sign"/> Singaporean prime minister [[Lee Hsien Loong]] called it "a major step forward for our region" and a sign of support for free trade and economic interdependence.<ref name="FT Asia-Pacific countries sign one of the largest">{{cite news |title=Asia-Pacific countries sign one of the largest free trade deals in history |url=https://www.ft.com/content/2dff91bd-ceeb-4567-9f9f-c50b7876adce |access-date=15 November 2020 |work=www.ft.com |archive-date=15 November 2020 |archive-url=https://web.archive.org/web/20201115174604/https://www.ft.com/content/2dff91bd-ceeb-4567-9f9f-c50b7876adce |url-status=live }}</ref> Vietnamese prime minister [[Nguyễn Xuân Phúc]] said the RCEP will be conducive to economic recovery and bring prosperity to enterprises and people in all countries concerned.<ref>{{cite web|url=https://www3.nhk.or.jp/news/html/20201115/k10012713481000.html |title=【RCEP合意】各国の反応とねらい|publisher=NHK News|date=2020-11-16|accessdate=2020-11-19|archive-date=2020-12-05|archive-url=https://web.archive.org/web/20201205213853/https://www3.nhk.or.jp/news/html/20201115/k10012713481000.html}}</ref> Cambodian Prime Minister [[Hun Sen]] stated that the RCEP has great potential to address major challenges as well as has a crucial role in maintaining [[prosperity]] and [[political stability]] in the region.<ref>{{cite web|url=https://english.news.cn/20221102/5f34eeaa4092458a864b46726b1a3fc2/c.html|title=RCEP key mechanism to safeguard free trade: Cambodian PM|work=Xinhua|date=2022-11-02}}</ref>

Several analysts{{whom|date=October 2023}} predicted that it would help stimulate the economies of signatory states amid the [[COVID-19 pandemic]], as well as "pull the economic centre of gravity back towards Asia, with China poised to take the lead in writing trade rules for the region", leaving the U.S. behind in economic and political affairs.<ref name="SCMP China declares victory as 15 nations sign" /><ref name="USDecline" /><ref name="TimeUS" />

[[Mohamed Azmin Ali]], Minister of International Trade and Industry of Malaysia, said the RCEP would encourage local businesses to enter global markets and would increase Malaysia's exports. He stated that RCEP signatories would enjoy preferential treatment due to the removal of tariff and non-tariff trade barriers.<ref name="malaysianreserve_global"/>

[[Joko Widodo]], President of Indonesia, stated that the signing of the RCEP was a historic day that signalled Indonesia's strong commitment to multilateralism. [[Agus Suparmanto]], Indonesian Minister of Trade, said that the RCEP could boost Indonesia's exports to signatory countries by 8-11% and boost investment into Indonesia by 18-22%, and expressed confidence that the trade pact would benefit Indonesian business.<ref name="jakartaglobe_benefits"/>

[[Hiroaki Nakanishi]], Chairman of the [[Japan Business Federation]], said the RCEP will help expand trade and investment in the region, and will bring further prosperity and stability, which is very important for achieving a free and open international economic order.<ref>{{cite web|url=https://www3.nhk.or.jp/news/html/20201115/k10012713441000.html |title=【RCEP合意】経済界の反応は|publisher=NHK News|date=2020-11-16|accessdate=2020-11-19|archive-date=2020-12-04|archive-url=https://web.archive.org/web/20201204234233/https://www3.nhk.or.jp/news/html/20201115/k10012713441000.html}}</ref>

[[Moon Jae-in]], the [[President of South Korea]], praised the RCEP as an unprecedented mega regional trading agreement and expressed confidence that it will "contribute to the recovery of multilateralism and the development of free trade around the world, beyond the region". Moon also stated that he expects the RCEP to open the world's biggest e-commerce market.<ref name="Korea_herald_moon_sign">{{cite news |title=Moon signs RCEP trade pact after summit with leaders of 14 nations|url=http://www.koreaherald.com/view.php?ud=20201115000153 |access-date=15 February 2021 |work=The Korea Herald|date=15 November 2020}}</ref> The Korean Chamber of Commerce and Industry welcomed the conclusion of the RCEP, expecting that it would "expand a new free trade bloc and serve as the basis for revitalizing the Asia-Pacific regional economic markets". The RCEP will benefit Korean companies by removing tariffs on several Korean imports in signatory states, especially in steel, automobiles and electronics.<ref name="Korea_herald_firms_benefit">{{cite news |title=Korean firms likely to benefit from RCEP trade deal|url=http://www.koreaherald.com/view.php?ud=20201116000931 |access-date=15 February 2021 |work=The Korea Herald|date=16 November 2020}}</ref>

[[Kishore Mahbubani]], Singapore's former permanent representative to the United Nations and former President of the [[United Nations Security Council]], stated that the "future of Asia will be written in four letters, RCEP" and that India did a major geopolitical favour to China by withdrawing from the RCEP, just as the United States did by withdrawing from the CPTPP. Mahbubani added that with India and the United States absent, "a massive economic ecosystem centered on China is evolving in the region".<ref name="mahbubani_fp">{{cite news |title=Why Attempts to Build a New Anti-China Alliance Will Fail|url=https://foreignpolicy.com/2021/01/27/anti-china-alliance-quad-australia-india-japan-u-s/|access-date=15 February 2021|work=Foreign Policy|date=27 January 2021}}</ref>

According to Peter Petri and Michael Plummer at the [[Brookings Institution]], the agreement represented "a triumph of ASEAN's middle-power diplomacy" and would lead to significant increases in world incomes and trade by 2030, even though it "says nothing at all about labor, the environment, or state-owned enterprises". They added, "However, ASEAN-centered trade agreements tend to improve over time."<ref name="broo_RCEP_A"/>

=== Criticism ===
In 2016, the [[Electronic Frontier Foundation]] described the first draft of RCEP's intellectual property provisions as containing "quite simply the worst provisions on copyright ever seen in a trade agreement." They praised the second draft for removing some of the most problematic provisions similar to the ones in the Trans-Pacific Partnership, but described as unnecessary the new [[broadcasting rights]] provision, which gives broadcasters exclusive control over content that has been broadcast, even if they do not hold any copyright in said content. They wrote that a prohibition on reproduction of broadcast content was "such an extreme proposal that it is currently considered off the table" in the proposed [[Protection of Broadcasts and Broadcasting Organisations Treaty]].<ref name="EFF">{{Cite web |url = https://www.eff.org/deeplinks/2016/04/rcep-other-closed-door-agreement-compromise-users-rights |title = RCEP: The Other Closed-Door Agreement to Compromise Users' Rights |date = 2016-04-20 |website = Electronic Frontier Foundation |access-date = 2016-04-28 |archive-date = 15 November 2020 |archive-url = https://web.archive.org/web/20201115174558/https://www.eff.org/deeplinks/2016/04/rcep-other-closed-door-agreement-compromise-users-rights |url-status = live }}</ref>

India pulled out of the deal in November 2019, primarily due to concerns of dumping of manufactured goods from China and agricultural and dairy products from Australia and New Zealand, potentially affecting its own domestic industrial and farming sectors.<ref name="indi_India_decides">{{Cite news |url = https://economictimes.indiatimes.com/news/economy/foreign-trade/india-decides-to-opt-out-of-rcep-says-key-concerns-not-addressed/articleshow/71896848.cms |title = India decides to opt out of RCEP, says key concerns not addressed |newspaper = The Economic Times |access-date = 5 November 2019 |date = 5 November 2019 |archive-date = 15 November 2020 |archive-url = https://web.archive.org/web/20201115174559/https://economictimes.indiatimes.com/news/economy/foreign-trade/india-decides-to-opt-out-of-rcep-says-key-concerns-not-addressed/articleshow/71896848.cms |url-status = live }}</ref> Due to India's withdrawal, there are concerns that China may dominate RCEP.<ref name="FT Asia-Pacific countries sign one of the largest"/> ASEAN leaders stated that India was welcome to return and join the bloc. Any other state may join RCEP 18 months after it comes into force.<ref>{{Cite news|last=<!--Check author names-->|first=|title=What happens now the RCEP trade deal has been signed?|work=Bangkok Post|url=https://www.bangkokpost.com/business/2020503/what-happens-now-the-rcep-trade-deal-has-been-signed-|access-date=2020-11-21}}</ref>

''[[The Wall Street Journal]]'' reported in November 2019 that the tariff-related liberalisations from RCEP would be modest, calling it a "[[paper tiger]]". A comprehensive study into the deal shows that it would add just 0.08% to China's 2030 GDP without India's participation.<ref name="wsj._Asias_Huge">{{Cite web |title=Asia's Huge Trade Pact Is a Paper Tiger in the Making |last=Bird |first=Mike |newspaper=[[The Wall Street Journal]] |date=November 5, 2019 |access-date=February 1, 2021 |url= https://www.wsj.com/articles/asias-huge-trade-pact-is-a-paper-tiger-in-the-making-11572943887}}</ref><ref name="Mahadevan Nugroho pp. 3148–3167">{{cite journal | last1=Mahadevan | first1=Renuka | last2=Nugroho | first2=Anda | title=Can the Regional Comprehensive Economic Partnership minimise the harm from the United States–China trade war? | journal=The World Economy | publisher=Wiley | volume=42 | issue=11 | date=September 10, 2019 | issn=0378-5920 | doi=10.1111/twec.12851 | pages=3148–3167| s2cid=202308592 }}</ref>

Human rights groups said RCEP could negatively affect small farmers, lead to more land conflicts, and make workers in poorer countries worse off. Rashmi Banga, a senior economist at [[UNCTAD]], said that implementing RCEP at a time of crisis will make poorer coumtries in Southeast Asia even more vulnerable, adding, "Most Asean nations will see rising imports and declining exports. That will worsen their balance of trade and weaken their fiscal position."<ref name="reut_Fears_world's">{{Cite web |title=Fears world's biggest trade deal could spark conflicts, hurt farmers |last=Chandran |first=Rina |work=[[Reuters]] |date=November 13, 2020 |access-date=February 13, 2021 |url= https://www.reuters.com/article/us-asean-rights-agreement-trfn/fears-worlds-biggest-trade-deal-could-spark-conflicts-hurt-farmers-idUSKBN27T15K}}</ref>

Former [[Australian prime minister]] [[Malcolm Turnbull]] said that despite the "hoopla", the RCEP was "a really low-ambition trade deal that we shouldn't kid ourselves on", adding, "It's a very old fashioned trade deal. It's low ambition. It's been affected largely for strategic reasons."<ref name="bbc_What_is">{{cite news |title=What is the Regional Comprehensive Economic Partnership (RCEP)? |url=https://www.bbc.co.uk/news/business-54899254 |access-date=9 December 2020 |work=BBC News |date=16 November 2020}}</ref><ref name="scmp_China-Australia">{{Cite web |title=China-Australia relations: ex-PM Malcolm Turnbull urges Canberra not to 'buckle under pressure' from Beijing |last=Bermingham |first=Finbarr |newspaper=[[South China Morning Post]] |date=November 13, 2020 |access-date=February 16, 2021 |url= https://www.scmp.com/economy/china-economy/article/3109668/china-australia-relations-ex-pm-malcolm-turnbull-urges}}</ref>

[[CNBC]] reported that the economic benefits from RCEP would be modest and could take years to materialise, with analysts from [[Citigroup|Citi]] suggesting that RCEP was "a coup for China" non-economically. The Citi report also said that India is one of the biggest losers from RCEP, adding, "exclusion will likely make India less attractive as an alternative production base versus ASEAN."<ref name="cnbc_A_coup">{{Cite web|last=Lee|first=Yen Nee|date=2020-11-16|title='A coup for China': Analysts react to the world's largest trade deal that excludes the U.S.|url=https://www.cnbc.com/2020/11/16/rcep-15-asia-pacific-countries-including-china-sign-worlds-largest-trade-deal.html|access-date=2020-12-11|website=CNBC|language=en}}</ref>

Indian external affairs minister [[Subrahmanyam Jaishankar]] said it is not in India's interest to join the RCEP, as the trade deal would have "fairly immediate negative consequences" for India's economy.<ref name="hind_RCEP_would">{{Cite web |title=RCEP would have hurt India's economy, FTA with EU not easy: S Jaishankar |author= |newspaper=[[Hindustan Times]] |date=November 18, 2020 |access-date=February 16, 2021 |url= https://www.hindustantimes.com/india-news/rcep-would-have-hurt-india-s-economy-fta-with-eu-not-easy-s-jaishankar/story-jLOwniuthmH8CpYR0CQsoL.html  }}</ref><ref name="econ_India_pulled">{{Cite news |title=India pulled out of RCEP as concerns not addressed: S Jaishankar |last=Chaudhury |first=Dipanjan Roy |newspaper=[[The Economic Times]] |date=November 19, 2020 |access-date=February 16, 2021 |url= https://economictimes.indiatimes.com/news/economy/policy/india-pulled-out-of-rcep-as-concerns-not-addressed-joining-it-would-have-resulted-negative-consequences-for-economy-eam/articleshow/79287644.cms}}</ref> Zia Haq, associate editor at ''[[Hindustan Times]]'', said India has "rightly shunned" the RCEP because at the moment it cannot take advantage of free-trade agreements. He went on to say, "India fears the RCEP will also limit its policy-making room in areas such as foreign investment." He said that according to some analysts, there will be limited gains from the RCEP without India, which is Asia's third-largest economy.<ref name="hind_India_has">{{Cite web |title=India has rightly shunned RCEP for now |last=Haq |first=Zia |newspaper=[[Hindustan Times]] |date=November 20, 2020 |access-date=February 15, 2021 |url= https://www.hindustantimes.com/india-news/analysis-india-has-rightly-shunned-rcep-for-now/story-axsa89GgH5Wtsl21SjLf3O.html}}</ref>

Yen Huai-shing, deputy director at the [[Chung-Hua Institution for Economic Research]], wrote on ''[[Taipei Times]]'' that the RCEP is "not to have a strong impact" on Taiwan. She said that most observers did not expect the RCEP to provide a high degree of openness, and that it provides no [[dispute resolution|dispute settlement]] mechanism when handling certain trade issues such as [[meat inspection]] regulations, adding, "In other words, they are more symbolic than binding."<ref name="taip_RCEP_not">{{Cite web |title=RCEP not to have a strong impact |last=Huai-shing |first=Yen |newspaper=[[Taipei Times]] |date=November 23, 2020 |access-date=February 15, 2021 |url= https://www.taipeitimes.com/News/editorials/archives/2020/11/23/2003747410}}</ref>

According to Patricia Ranald at the [[Australian Institute of International Affairs]], RCEP has limited gains from trade and ignores labour, human rights, and environmental sustainability issues. She said, "Despite claims about the benefits of common standards, the RCEP has no commitments to internationally recognised labour rights and environmental standards which Australia and other RCEP governments have endorsed through the United Nations and the [[International Labour Organization]]."<ref name="inte_RCEP_Has">{{Cite web |title=RCEP Has Limited Trade Gains and Ignores Labour and Human Rights |last=Ranald |first=Patricia |publisher=[[Australian Institute of International Affairs]] |date=November 27, 2020 |access-date=February 4, 2021 |url= https://www.internationalaffairs.org.au/australianoutlook/rcep-has-limited-trade-gains-and-ignores-labour-and-human-rights/}}</ref>

[[Salvatore Babones]] commented on ''[[Foreign Policy]]'' that, by 2030, the world's economy would be expected to grow around 40% and the RCEP may add 0.2% to it, the scale of a "rounding error". He said that some main exports to China, such as Japan's machinery and Australia's iron ore, are already tariff-free. Babones said that with the signing of RCEP, "China may score propaganda points by posing as the guardian of the international system, but the system itself is increasingly bypassing China."<ref name="fore_Cutting_Through">{{Cite web |title=Cutting Through the Hype on Asia's New Trade Deal |last=Babones |first=Salvatore |magazine=[[Foreign Policy]] |date=December 2, 2020 |access-date=February 13, 2021 |url= https://foreignpolicy.com/2020/12/02/trade-china-asia-rcep-tpp/}}</ref>

Some analysts and economists said the RCEP is unlikely to benefit its developing member countries in the short term. Kate Lappin, Asia Pacific regional secretary at [[Public Services International]], said that the pact has no provisions for improving labour rights, adding, "The agreement might not be good for governments and workers, but still deliver profits for foreign investors."<ref name="reut_RCEP_unlikely">{{Cite web |title=RCEP unlikely to benefit developing members in short term: analysts |last=Chowdhury |first=Divya |work=[[Reuters]] |date=February 11, 2021 |access-date=February 14, 2021 |url= https://www.reuters.com/article/us-asia-trade-rcep-gmf/rcep-unlikely-to-benefit-developing-members-in-short-term-analysts-idUSKBN2AB0VD}}</ref>

==See also==
* [[Comprehensive Economic Partnership for East Asia]] (CEPEA)
* [[Comprehensive and Progressive Agreement for Trans-Pacific Partnership]] (CPTPP)
* [[Asian values]]
* [[East Asian Community]]
* [[East Asia Summit]]
* [[Free-trade area]]
* [[FTAAP|Free Trade Area of the Asia-Pacific]] (FTAAP)
* [[Market access]]
* [[Pan-Asianism]]
* [[South Asian Free Trade Area]]
* [[Trans-Pacific Partnership]]
* [[Indo-Pacific Economic Framework]] (IPEF)
* [[Craiova Group]]
* [[Open Balkan]]
* [[Central European Free Trade Agreement|CEFTA]]

==Notes==
{{reflist|group=note}}

==References==
{{Reflist}}

==External links==
* {{commonscat-inline}}
* {{official website}}

{{portalbar|Geography|Asia|Oceania|Australia|China|Indonesia|Japan|Malaysia|New Zealand|Philippines|Singapore|South Korea|Thailand|Vietnam}}
{{Free trade agreements of New Zealand}}
{{Free trade agreements of Australia}}
{{International trade}}
{{Regional organizations}}
{{Asia topics}}
{{Association of Southeast Asian Nations (ASEAN)}}
{{authority control}}

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[[Category:ASEAN]]
[[Category:Economy of Asia]]
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[[Category:Southeast Asia]]
[[Category:Free trade agreements of Australia]]
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[[Category:Free trade agreements of Indonesia]]
[[Category:Free trade agreements of Japan]]
[[Category:Free trade agreements of Malaysia]]
[[Category:Free trade agreements of New Zealand]]
[[Category:Free trade agreements of the Philippines]]
[[Category:Free trade agreements of Singapore]]
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[[Category:Free trade agreements of Vietnam]]
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