The Regional
Comprehensive Economic Partnership (RCEP) is one of the largest trade agreements in the region.
According to the World Bank (WB), RECP will add 209
billion USD in income per year to the region by 2030. The RCEP agreement
includes China, Japan, and South Korea, the largest economies in Asia,
helping RCEP to shift the economic weight toward
Asia, including 30% of GDP and 27% of global
merchandise trade, more than 18% of service trade, and 19% of foreign
direct investment (FDI) flows.
Indonesia is a country that has gained many benefits from signing free trade
agreements with Korea and China, especially strengthening and promoting
economic cooperation and trade
liberalization in the Asia-Pacific region,
which plays a major role in promoting
world economic growth.
