Date Published:
Dec 22, 2021
Category:
Discussion Papers
Focus Area(s):
Code:
DP 2021-35

The Regional Comprehensive Economic Partnership Agreement (RCEP) gathers 10 ASEAN countries and five partners, namely, the Republic of Korea, China, Japan, New Zealand, and Australia. RCEP covers a market of 2.2 billion consumers and accounts for more than 30 percent of the global GDP. The agreement was signed last November 15, 2020 through a video conference with the abovementioned countries. RCEP is the largest free trade agreement and can be a catalyst for economic development for the Philippines. However, there are economic and political concerns being raised against RCEP. This paper contributes to the discussion on RCEP by providing a policy tool that calculates the impact of the trade agreement on exports and GDP. The calculations show that RCEP has a positive impact on Philippine exports and GDP. Other top gainers would be Vietnam and Korea.

Comments to this paper are welcome within 60 days from the date of posting. Email publications@pids.gov.ph

Citations

This publication has been cited 30 times

In the Media
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  16. Desiderio, Louella. 2022. NEDA pushes RCEP approval. Philippine Star.
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  23. National Economic and Development Authority. 2022. NEDA Pushes for RCEP agreement, joins dialogue with agri stakeholders. National Economic and Development Authority.
  24. Ochave, Revin Mikhael. 2022. Full benefits of RCEP require more trade openness — PIDS. BusinessWorld.
  25. Ordinario, Cai. 2022. Farmers say RCEP’s fate better left to next administration’s decision. BusinessMirror.
  26. PortCalls Asia . 2022. PH remains on sidelines as RCEP takes effect in 10 countries. Portcalls Asia.
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  29. Tribune.net . 2022. Trade liberalization in agriculture very limited in RCEP. Tribune.net.
  30. Wallace, Peter. 2022. We must join RCEP. Inquirer.net.


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