The massive US-led Trans-Pacific Partnership (TPP) trade deal and the ASEAN-centred ‘Regional Comprehensive Economic Partnership’ (RCEP) will together create a new trade “architecture” in the Pacific. But who will benefit from the new rules?
Regional Comprehensive Economic Partnership (RCEP)
12 February 2016
When Trade Minister Andrew Robb signed the TPP he told the Fairfax press that he was now setting his sights on the Regional Comprehensive Economic Partnership (RCEP). The two deals combined would create “a vast trade agreement architecture” for the world, he said.
September 2015: RCEP negotiations between Australia, New Zealand, China, Japan, South Korea, India and 10 ASEAN countries are now considering proposals for stronger monopolies on medicines and for foreign investor rights to sue governments over changes to domestic legislation, and aiming to finish the negotiations in 2016, AFTINET has done a second submission which addresses these issues in more detail.
Negotiations for the Regional Comprehensive Economic Partnership (RCEP) between Australia, New Zealand, China, Japan, India, South Korea and the 10 ASEAN countries started in May 2013.