megaregional trade agreements

RCEP: Nineteen Rounds and Counting…

While RCEP is not the TPP, as a Talking Trade post from last year detailed, these are still extremely complicated negotiations.  The 16 countries involved have very diverse interests and objectives.  All were drafted into this exercise by way of their involvement with ASEAN and each has varying levels of enthusiasm for the integration project. The negotiation agenda is also complicated.  This round saw the continuing expansion of the issues under discussion with the movement of both trade remedies and government procurement from “expert group meetings” to the creation of formal working groups tasked with negotiating potential chapter outcomes.  RCEP now includes roughly 15 substantive topics that have to be concluded simultaneously with 16 different and diverse parties.  Getting to “yes” is going to be tough.