Recently, the fifth round of negotiations for the proposed Regional Comprehensive Economic Partnership (RCEP), between the Association of Southeast Asian Nations (ASEAN) and its free trade agreement (FTA) was held in Singapore from June 21 to 27. Its target is to extend, develop, and improve expressively all elements of those agreements, including tariffs, intellectual property, competition, and legal matters, such as dispute resolution.
RCEP negotiations began in Brunei in May 2013, with the first RCEP Ministerial Meeting also being held there in August last year. It is envisioned that an agreement would form one of the largest FTAs in the world. It is predictable to become the platform for future trade and investment integration in Asia. It was also decided that the next round of negotiations will be held in India at the beginning of December.
