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RCEP negotiations were launched in November 2012 between the Association of Southeast Asian Nations (ASEAN includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam) and ASEAN's free trade agreement partners (Australia, China, India, Japan, New Zealand and the Republic of Korea).
The Agreement provides that it will enter into force 60 days after at least six ASEAN Member States and at least three non-ASEAN Member States have ratified it. RCEP has been ratified (or equivalent) by Australia, New Zealand, Brunei Darussalam, Cambodia, China, Japan, Laos, Singapore, Thailand and Vietnam.
RCEP will enter into force on 1 January 2022, 60 days after its ratification by Australia on 2 November 2021.
When in force for all 15 signatories, RCEP will be the world’s largest free trade agreement.
November 8, 2021 - 333 Staff with information from Australia's Minister for Trade, Tourism and Investment and Department of Foreign Affairs and Trade.
