Regional Comprehensive Economic Partnership
2021-12-01
Regional Comprehensive Economic Partnership
Signatories 15
Australia
Brunei
Cambodia
China
Indonesia
Japan
South Korea
Laos
Malaysia
Myanmar
New Zealand
Philippines
Singapore
Thailand
Vietnam
Ratifiers 11
Singapore (9 April 2021)
China (15 April 2021)
Japan (25 June 2021)
Brunei (11 October 2021)
Cambodia (15 October 2021)
Laos (26 October 2021)
Thailand (28 October 2021)
Vietnam (29 October 2021)
Australia (2 November 2021)
New Zealand (2 November 2021)
South Korea (3 December 2021)
Depositary Secretary-General of ASEAN
Language English
The Regional Comprehensive Economic Partnership is a free trade agreement among the Asia-Pacific nations of Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. The 15 member countries account for about 30% of the world's population (2.2 billion people) and 30% of global GDP ($26.2 trillion), making it the largest trade bloc in history. It is the first free trade agreement among the East Asian China, Japan, and South Korea, three of the four largest economies in Asia.As of 1 December 2021, six of the ten ASEAN and all of the five non-ASEAN signatories have deposited their instruments of RCEP ratification with the Secretary-General of ASEAN. The trade pact is projected to enter force on 1 January 2022.
