RCEP

FTAs

Regional Comprehensive Economic Partnership — 15-member Asia-Pacific FTA covering ~30% of global GDP. Members: 10 ASEAN + China + Japan + South Korea + Australia + New Zealand.

Common questions

Why did India not join RCEP?

India withdrew from RCEP negotiations in November 2019 citing: (1) concerns about Chinese goods surge through the 0% tariff route, (2) inadequate service sector commitments (no meaningful Mode 4 provisions), (3) data localisation and e-commerce provisions, (4) structural trade deficit with multiple RCEP members. India is considering re-joining as conditions evolve.

Related terms

• USMCA

Sources

1. Australian Government Department of Foreign Affairs and Trade dfat.gov.au accessed 20 August 2026
2. RAND Corporation rand.org accessed 20 August 2026

From the AJG lexicon archive (July 2026); fact-checked against primary sources 20 August 2026. FAQ sources: Press Information Bureau, India.