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Regional Comprehensive Economic Partnership (RCEP)

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US-China trade war
Regional Comprehensive Economic Partnership (RCEP)
The Regional Comprehensive Economic Partnership (RCEP) is a free-trade agreement (FTA) involving the 10 member states of the Association of Southeast Asian Nations (Asean) bloc and five of their FTA partners. The RCEP will eliminate as much as 90 per cent of the tariffs on imports between its signatories within 20 years of coming into effect. Fifteen Asia-Pacific nations signed the agreement on November 15, 2020.
A train is pictured during a trial run along the newly-constructed Belt and Road Initiative rail line via the China-built Padma Bridge in Dhaka, Bangladesh, on September 7, 2023. Photo: Xinhua
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A view of the Hong Kong-Zhuhai-Macau bridge in 2020. At the Hong Kong-Asean Summit in 2023, Chief Executive John Lee pledged that the city would be a “value-adding gateway” connecting China to the rest of the world. Photo: Winson Wong
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The Regional Comprehensive Economic Partnership represents about 30 per cent of the world’s gross domestic product. Photo: Xinhua
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