Economic Implications of the Regional Comprehensive ...

ASIAN DEVELOPMENT BANKASIAN DEVELOPMENT BANK6 ADB Avenue, Mandaluyong City1550 Metro Manila, Implications of the Regional Comprehensive Economic Partnership for Asia and the PacificThe Regional Comprehensive Economic Partnership (RCEP) presents strong potential to mold Regional trade and investment patterns well into the future and to influence the direction of global Economic cooperation at a challenging time. This paper evaluates the RCEP s impact on global and Regional incomes, trade , Economic structure, factor returns, and employment using a computable general equilibrium model. The results suggest that the RCEP agreement could generate sizable global income gains. Together with the CPTPP, RCEP will also strengthen the region s manufacturing supply chains, raising productivity and increasing wages and the Asian Development BankADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

FTAs. For example, ASEAN economies already have FTAs with each other, as well as an ambitious economic integration program known as the ASEAN Economic Community, which went into effect in December 2015 and continues to deepen. One would not expect, a priori, the RCEP to significantly lower intra-ASEAN barriers to trade and investment.

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  Trade, Asean

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