IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-981-19-9669-6_24.html
   My bibliography  Save this book chapter

The Regional Comprehensive Economic Partnership (RCEP): Free Trade and Investment in East Asia Under a “Single Rulebook”

In: Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 1

Author

Listed:
  • Patrick Ziltener

    (University of Zurich)

Abstract

Negotiations on the Regional Comprehensive Economic Partnership (RCEP) were launched in November 2012 between the Association of Southeast Asian Nations (ASEAN) and ASEAN’s free trade agreement partners Australia, China, India, Japan, New Zealand and South Korea. After more than 30 negotiations rounds, the Agreement was signed on November 15, 2020. In November 2019, India had indicated that it is not in a position to sign the Agreement, but even without India, RCEP still is the world’s largest free trade agreement, covering about 30% of global GDP. RCEP entered into force on January 1, 2022. This book chapter analyzes the economic potentiality of the agreement, focusing on the phasing out of tariffs on trade. Tariffs are expected to be reduced over 20 years, most tariffs being eliminated. The main impact will be in the cases where there has been no free trade agreement so far, which is the case between Japan and South Korea and, most importantly, between Japan and the People's Republic of China. Beyond tariffs, RCEP improves the business environment and opportunities for transnational value chains and cross- border trading for all companies operating in the RCEP area. It standardizes rules and procedures (the “single rulebook”), and it is supposed to create more transparency and increase the level of compliance to these rules and procedures. RCEP will have an impact on economic actors’ behavior and ultimately increase the level of economic integration in the region.

Suggested Citation

  • Patrick Ziltener, 2023. "The Regional Comprehensive Economic Partnership (RCEP): Free Trade and Investment in East Asia Under a “Single Rulebook”," Springer Books, in: An Thinh Nguyen & Thu Thuy Pham & Joon Song & Yen-Ling Lin & Manh Cuong Dong (ed.), Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 1, pages 385-395, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-9669-6_24
    DOI: 10.1007/978-981-19-9669-6_24
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-981-19-9669-6_24. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.