16 November 2020 | KOREA CHAIR EXPLAINS
Dr. Ramon Pacheco Pardo
On Sunday, South Korea joined fourteen other Asia-Pacific countries in signing the Regional Comprehensive Economic Partnership (RCEP). By some measures, this is the biggest regional trade agreement in the world, accounting for over 30 percent of world GDP (PPP) and 30 percent of the world’s population. RCEP negotiations were formally launched in 2012, which shows that the negotiation process has not been easy. But once the agreement enters into force, it will slash tariffs and unify rules of origin – thus strengthening Asia-Pacific economic integration. The expectation is that South Korea and Japan, the two largest exporters of high-tech goods in the region, will be among the major beneficiaries of the agreement. Read more…