Episode 65 : RCEP - The Road Ahead for Regional Trade

The Regional Comprehensive Economic Partnership or RCEP was signed by 15 countries including all Southeast Asian nations after eight years of negotiations on 15 November 2020 in Hanoi, Vietnam. Dubbed as the largest free trade agreement in history, it focuses on the reduction of tariffs and increasing market access. However, India decided to walk out of RCEP stating strong concerns over Chinese goods flooding Indian markets. At this juncture, India and the United States are the two big countries that are not part of this multilateral trade grouping. Dr Amitendu Palit, Senior Research Fellow and Research Lead (Trade and Economics) explains the complexities of regional trade and the way forward for RCEP. He also analyses if Asia is emerging to be the centre of the global trade order.