Riding on RCEP: Impacts & Opportunities for ASEAN Markets
On 15 November 2020, the signing of the Regional Comprehensive Economic Partnership (RCEP) made headlines across the globe. Touted as the world's largest free trade agreement (FTA), it brings together a diverse group of economies including the ASEAN Member States, China, Japan, South Korea, Australia and New Zealand, which covers over 30% of the world's population and 30 percent of the world's GDP. According to statistics by the Peterson Institute for International Economics, RCEP could add USD209 billion annually to the world's incomes, and USD500 billion to world trade by 2030.
RCEP aims to establish a mutually beneficial economic partnership to facilitate greater economic integration and contribute to global economic growth and development – a positive affair during a time where multilateralism and globalisation are under threat. The presence of key emerging ASEAN markets, who alone covet USD2.8 trillion of trade in goods, offer a huge and ripe opportunity for businesses to tap on. It incentivises supply chains, caters to political sensitivities and builds on the existing ASEAN Plus One agreements. Southeast Asia is set to benefit significantly, so how can businesses get in on a slice of the action?
We invite you to join our esteemed panel of speakers who bring expertise from a trade, governmental and industry perspective. We will explore the impacts and opportunities RCEP brings for businesses who operate in ASEAN, and how they can effectively tap on these benefits, particularly in the MedTech sphere.
Apr 20, 2021
11 AM - 12 PM (GMT+8)