▶️ RCEP has an impact on the country. 
▶️ RCEP will be an important catalyst for Malaysia to further strengthen its relationship with its neighboring nations through collaboration and cooperation.

➡️ ASEAN’s 10 members are Malaysia’s top trading partners (58% of total trade in 2019)
➡️ Malaysia’s trade position will be greatly enhanced by increased market integration, reduced trade barriers, and enhanced trade facilitation.
➡️ Almost 60% of Malaysia’s trade involves RCEP members and around 56% of Malaysia’s exports go towards the countries covered by the RCEP. 
➡️ This creates more commercial opportunities and partnerships with other RCEP members.
➡️ Increasing market liberalization along with competition will raise challenges to some domestic sectors and SMEs in terms of costs and products’ competitiveness. 
➡️ Access to capital and the technology and expertise of overseas partners.

However, as with all other trade agreements, increasing market liberalization and step-up competition will pose challenges to some domestic sectors and SMEs in terms of costs and products’ competitiveness and also the companies’ capability to produce high quality and standard products and services in international markets. Hopefully, this will encourage participating countries to build a healthy, competitive business environment that can increase innovation and efficiency.

Various studies have indicated that RECP is expected to generate a net positive effect on Malaysia with a net increase in GDP between 0.8% and 1.7%, while increases in exports are expected to remain substantial at 24.4%. 
Sources: The Star Malaysia, MITI, EY, MIDA