Regional Comprehensive Economic Partnership: Implications, Challenges and Future Growth of East Asia and ASEAN

Regional Comprehensive Economic Partnership: Implications, Challenges and Future Growth of East Asia and ASEAN
14 March 2022
8:30 am - 3:30 pm
Online
ERIA

The Regional Comprehensive Economic Partnership (RCEP) is the largest free trade agreement in 2020, completed on 15 November 2020, comprising 10 members of ASEAN (Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) and five other regional countries that ASEAN has existing free trade agreements – Australia, China, India, Japan, South Korea, and New Zealand.[1][2] Currently, it is the largest trading block in the world consisting of a combined population of 2.2 billion people (30% of the world population), total regional gross domestic product (GDP) of around $38,813 billion (30% of global GDP in 2019), and nearly 28% of global trade.

It sets an important agenda for trade and investment in global trade in terms of opening large domestic market (demand), releasing huge resources for trade and investment, and creating dynamic regional and global value-chain activities.

The RCEP as a ‘living’ agreement will be able to create a wider regional integration agenda to address key contemporary issues such as the environment and climate change, skills development, green transformation, and developing digital and smart urban centres. ASEAN centrality, as highlighted by the RCEP framework, is critical for the post-pandemic recovery and structural transformation of the region.

As part of the Economic Research Institute for ASEAN and East Asia (ERIA) research project, this workshop aims to address the structure of the RCEP in terms of the complexity of the RCEP commitments modalities and mechanism, it explores the various elements of the agreement and discusses the key potential implications to the integration process in the region. For example, it will carefully examine the commitments and compare them with those of other agreements, including the CPTPP. The project underlines some key features of the agreement and analyses how these could strengthen regional integration. The impact of businesses, behind-the-border issues, and the domestic capacity of the respective RCEP member countries will also be discussed, in addition to a formal assessment of the potential benefits of the RCEP. Finally, this study also attempts to address emerging issues – especially with respect to the COVID-19 pandemic recovery.

The workshop will also include a book launch titled ‘Regional Comprehensive Economic Partnership: Implications, Challenges and Future Growth of East Asia and ASEAN’.

Event page

 

The Regional Comprehensive Economic Partnership (RCEP) is the largest free trade agreement in 2020, completed on 15 November 2020, comprising 10 members of ASEAN (Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) and five other regional countries that ASEAN has existing free trade agreements – Australia, China, India, Japan, South Korea, and New Zealand.[1][2] Currently, it is the largest trading block in the world consisting of a combined population of 2.2 billion people (30% of the world population), total regional gross domestic product (GDP) of around $38,813 billion (30% of global GDP in 2019), and nearly 28% of global trade.

 

 

It sets an important agenda for trade and investment in global trade in terms of opening large domestic market (demand), releasing huge resources for trade and investment, and creating dynamic regional and global value-chain activities.

 

 

The RCEP as a ‘living’ agreement will be able to create a wider regional integration agenda to address key contemporary issues such as the environment and climate change, skills development, green transformation, and developing digital and smart urban centres. ASEAN centrality, as highlighted by the RCEP framework, is critical for the post-pandemic recovery and structural transformation of the region.

 

 

As part of the Economic Research Institute for ASEAN and East Asia (ERIA) research project, this workshop aims to address the structure of the RCEP in terms of the complexity of the RCEP commitments modalities and mechanism, it explores the various elements of the agreement and discusses the key potential implications to the integration process in the region. For example, it will carefully examine the commitments and compare them with those of other agreements, including the CPTPP. The project underlines some key features of the agreement and analyses how these could strengthen regional integration. The impact of businesses, behind-the-border issues, and the domestic capacity of the respective RCEP member countries will also be discussed, in addition to a formal assessment of the potential benefits of the RCEP. Finally, this study also attempts to address emerging issues – especially with respect to the COVID-19 pandemic recovery.

 

 

The workshop will also include a book launch titled ‘Regional Comprehensive Economic Partnership: Implications, Challenges and Future Growth of East Asia and ASEAN’.