RCEP will have the potential to deliver significant opportunities to Australian businesses and consumers. RCEP will cover ten of Australia's top 15 trading partners, and collectively RCEP participating countries will account for a combined GDP of US$27.3 trillion (2018). These countries account for 61 per cent of Australia's total two way trade, and 71 per cent of our exports (AUD$311 billion in 2018).
DFAT background papers
For more information on doing business with RCEP participating countries, or about specific export opportunities, please refer to the Australian Trade Commission (Austrade) website. Austrade's AANZFTA website has further information about doing business in ASEAN.
Other FTAs with RCEP participating countries
Other FTAs between and among RCEP participating parties will co-exist. Businesses will be able to decide which FTA they will use, based on a range of factors such as the tariffs and associated rules of origin applied. Many Australian export businesses currently make these assessments, for example, between SAFTA or TAFTA and AANZFTA.
For information on Australia's current FTAs, refer the FTAs in force page
FTAs among RCEP participating countries
The six ASEAN FTA Partners have concluded nine out of 15 possible bilateral FTAs (two bilateral negotiations are ongoing, one bilateral negotiation has paused and three bilateral relationships have no bilateral FTA engagement). China, Japan and Korea are negotiating a trilateral FTA.
|✔ FTA concluded, signed and in force|
|► FTA under negotiation|
|❚❚ Negotiations paused|
|* Does not cover individual ASEAN Member States' bilateral FTAs.|
|# Protocol to amend AANZFTA has entered into force for all Parties except Indonesia.|
|1 Services & Investment agreements have entered into force for all Parties, except Indonesia and Cambodia (Services and Investment) and Lao PDR (Investment).|
|2 Services & Investment agreements concluded but not signed.|
DFAT maintains up-to-date country and regional factsheets containing economic data about each of the RCEP participating countries.