The Regional Comprehensive Economic Partnership (RCEP) was initiated by ASEAN in 2012 and lasted for eight years. It was made by 15 members including China, Japan, South Korea, Australia, New Zealand and the ten ASEAN countries. [1-3]
On November 15, 2020, the 4th Regional Comprehensive Economic Partnership Agreement Leaders’ Meeting was held in video mode. After the meeting, the 10 ASEAN countries and 15 Asia-Pacific countries including China, Japan, South Korea, Australia, and New Zealand formally signed the “Regional Comprehensive Economic Partnership Agreement”. Economic Partnership Agreement [4]. The signing of the “Regional Comprehensive Economic Partnership Agreement” marks the official start of the free trade zone with the largest population, the largest economic and trade scale, and the most development potential in the world [3].
On March 22, 2021, the head of the International Department of the Ministry of Commerce stated that China has completed the RCEP approval and became the first country to ratify the agreement. [25] On April 15, China formally deposited the approval letter of the Regional Comprehensive Economic Partnership Agreement with the Secretary-General of ASEAN [26]. On November 2, the ASEAN Secretariat, the custodian of the Regional Comprehensive Economic Partnership Agreement, issued a notice announcing that Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam and other 6 ASEAN member states and China, Japan, New Zealand, Australia and others 4 Two non-ASEAN member states have formally submitted a letter of approval to the Secretary-General of ASEAN, reaching the threshold for the agreement to enter into force [32]. On January 1, 2022, the Regional Comprehensive Economic Partnership Agreement (RCEP) formally entered into force[37]. The first batch of countries that entered into force include Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam and other 6 ASEAN countries as well as China, Japan, and New Zealand. , Australia and other non-ASEAN countries. RCEP will take effect for South Korea from February 1, 2022. [39]
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Post time: Jan-05-2022
