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Three economies wait to join RCEP

Three economies wait to join RCEP

10 Sept 05:27 Key points summarised by AI
  • Chile, Hong Kong, and Sri Lanka have formally expressed their desire to join the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement.
  • RCEP members are currently working to finalize the Accession Procedures (AP), a critical step for admitting new members, though consensus on pre-screening processes is still being sought.
  • The ASEAN-led RCEP currently comprises 15 members, encompassing nearly 30% of global GDP and population, with intra-member trade reaching US$1.9 trillion last year.
  • The ASEAN Secretariat has established the RCEP Support Unit (RSU) to oversee member countries, appointing Mr. Taufig Wargadalam as its inaugural executive director.
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