♤ The RCEP involves negotiations in goods, services, investment, economic and technical cooperation, intellectual property rights, competition, dispute settlement and other issues like Rules of Origin, customs procedures and trade facilitation measures.

♤ The RCEP involves 16 countries:

o China, Japan and South Korea in North-east Asia;

o the ten ASEAN members in South-east Asia; and

o three non-East Asian countries -- India, Australia and New Zealand.

2.4.1. Significance of RCEP