Regional Comprehensive Economic Partnership (RCEP) agreement to enter into force on 1 January 2022
JAKARTA, 3 November 2021 – As of 2 November 2021, the ASEAN Secretariat has received Instruments of Ratification/Acceptance from six ASEAN Member States – Brunei Darussalam, Cambodia, Lao PDR, Singapore, Thailand, and Viet Nam – as well as from four non-ASEAN signatory States – Australia, China, Japan, and New Zealand.
As provided by the Agreement, the RCEP will enter into force sixty days after the date at which the minimum number of IOR/A is achieved. This means that the RCEP Agreement shall enter into force on 1 January 2022.
“The expeditious ratification process by signatory States is a true reflection of our strong commitment to a fair and open multilateral trading system for the benefit of the people in the region and the world. The implementation of the RCEP Agreement starting 1 January next year will give tremendous boost to the post COVID-19 economic recovery efforts,” the Secretary-General of ASEAN Dato Lim Jock Hoi stated yesterday.
Meanwhile, the preparatory work for the entry into force of RCEP will continue. The preparatory work undertaken by signatory States aims to lay a solid ground for the full and effective implementation of the Agreement through finalisation of the technical and institutional aspects of the Agreement.
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