RCEP: Can Multilateralism Lead to Economic Growth in Asia Pacific? New Report Launched
Since the Regional Comprehensive Economic Partnership entered into force in Jan 2022, its impacts are largely unknown. This report brings together the insights from 20 experts across 10 different Asia-Pacific countries analyzing how RCEP will change the economic and political landscape in the 21st century.
Accounting for nearly a third of the world’s population and almost 30% of global GDP, the Regional Comprehensive Economic Partnership (RCEP), entered into force on January 1, 2022. This free trade agreement includes 15 countries from Asia Pacific, forming the world’s largest trading bloc. Initially conceived by ASEAN as a means of bringing its pre-existing regional trade partners together under a comprehensive economic agreement, RCEP is expected to add US$200 billion to global GDP annually by 2030.
This report is one of the first to bring together the insights from 20 experts across 10 different Asia-Pacific countries analyzing how RCEP will change the economic and political landscape in the 21st century. Leading ministers, diplomats, economists, political advisors, and business executives contributed to this timely report exploring the various opportunities and challenges this new agreement will bring to the region. It examines the likely impact on the region’s economy, politics, practical implications for businesses and the region’s future in the new digital economy. At a time when multilateralism is being challenged, will RCEP prove the skeptics wrong? Can it represent an opportunity to leverage liberalized trade and supply chain optimization while turbo-charging Asia Pacific’s economies?
CKGSB draws from its extensive network of partners in the region to offer exclusive insights and knowledge from the experts who have their fingers on the pulse of Asia’s latest economic developments.
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