The Regional Comprehensive Economic Partnership (RCEP) entered into force on 1 January 2022. The current members are the 10 countries in the Association of Southeast Asian Nations (ASEAN), as well as Australia, China, the Republic of Korea, Japan, and New Zealand. The region has a large population, economic scale, and trade value. With a population of 2.27 billion, the RCEP has a combined GDP of $26 trillion and trade worth $10 trillion, accounting for about one third of the global totals.
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