The Regional Comprehensive Economic Partnership (RCEP) was concluded on 15 November 2020 after 8 years of negotiations. RCEP will create the largest free trade area and eliminate over 90 percent of tariffs on imports between its signatories. It builds on the existing ASEAN Plus One framework and establishes common rules to address issues such as rules of origin, intellectual property rights, e-commerce, competition and government procurement. Our alert summarises key details in the agreement and discusses how it will present a new business frontier of opportunities in the Asia Pacific region.

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