▶️ 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,
✔ RCEP – Regional Comprehensive Economic Partnership✔ EFFECTIVE from 01st January 2022✔ MEMBERS: 10-member ASEAN, China, Japan, South Korea, Australia and New Zealand✔ TRADE VOLUME: $5.4 trillion (29% of Global Trade)✔ POPULATION: About 2.26 billion (30% of World Population)✔ GDP: $26.3 trillion (30% of Global GDP) WHAT IT COVERS?👉 Elimination and/or reduction of import duties 👉 Promotion,