What is RCEP?

A free trade agreement (FTA) among ten (10) ASEAN Member States, Australia, China, Japan, New Zealand, and the Republic of Korea. As the world’s largest FTA, it brings together the economies with a shared commitment to deeper integration, inclusive growth, and economic resilience.

The World’s Largest FTA

With 15 countries participating, RCEP accounted for 27.6% of global GDP in 2024 and contributed 43.7% of global GDP growth in the past 10 years (2015-2024). The region is also home to over 2.31 billion people.*

In 2023, intra-RCEP merchandise trade reached USD 5.60 trillion, representing 12.2% of global trade** In terms of Foreign Direct Investment (FDI) in 2024, RCEP countries accounted for 28.2% (USD 424.9 billion) of global inward FDI and approximately 31.9% (USD 513.4 billion) of global outward FDI flows.***

(*World Bank Open Data, **UN Comtrade, ***UNCTADstat Data Centre)

Key features of the RCEP Agreement

Disclaimer: Information contained on the RCEP website is without prejudice to the issue of the status of a country in relation to the Agreement to which the Parties have no consensus view, and should not be considered representing official position of any of the Parties in this regard.