Will Malaysia Miss Out On RCEP Benefits?

The Regional Comprehensive Economic Partnership (RCEP) is the biggest international trade agreement to date, covering nearly a third of the global population and about 30 percent of global GDP. The agreement officially came into force on 1 January for 10 of the 15 signatory states. However four countries have yet to ratify the agreement, namely Indonesia, Philippines, Myanmar and Malaysia. What do countries stand to gain from RCEP, and conversely how might countries lose out if they’re not part of the club? We discuss the implications of RCEP for regional trade with Rajiv Biswas, Chief Economist at IHS Markit. Image credit: Shutterstock.com