Produced by Astro AWANIÂ Â
RCEP has come into effect in Malaysia. What can the largest free trade agreement contribute to the country’s trade and growth prospects? Jaideep from REFSA weighs in.
Summary
With the Regional Comprehensive Economic Partnership (RCEP) coming into effect in Malaysia, researcher Jaideep Singh evaluates its impact upon our country’s trade and growth. In actuality, RCEP mostly reaffirms existing measures, does little to assist with non-binding measures, and has a lack of modernity in addressing issues related to environment or labour. There is a need to further enhance trade and industrial policy frameworks, starting with addressing local issues SMEs face, and establishing cooperation between them and MNCs.