The Regional Comprehensive Economic Partnership (RCEP) represents a significant global trade initiative involving ASEAN nations, China, Australia, Japan, South Korea, and New Zealand. This agreement encompasses a substantial portion of global economic activity, contributing approximately 30% of global Gross Domestic Product (GDP) and over 25% of total exports. The RCEP’s expansion is anticipated to bolster Hong Kong’s economic position as a key superconnector, facilitating trade and investment within the region. Asean’s efforts to incorporate additional members further solidify the RCEP’s influence on the global economic landscape.
Credits: News – South China Morning Post
