Regional Comprehensive Economic Partnership (RCEP)

• Market access. Eliminates tariffs for about 92% of Singapore's originating exports to other RCEP participating countries. Additional preferential market access vs ASEAN Plus One FTAs for specific products such as mineral fuels, plastics, chemical products, food preparations and beverages.

• Trade facilitation. Enhanced provisions addressing non-tariff measures to bring down trade transaction costs for businesses, streamlined rules providing greater flexibility for companies to gain preferential market access benefits, and simplified procedures for more efficient clearance of goods.

Enhanced commitments on par or above existing ASEAN Plus One FTAs in research and development, business, professional services, computer and related services, and distribution and logistics services.

• Investment Liberalisation, through reduced barriers to investment across ASEAN. Also sets requirements to provide non-discriminatory treatment of investments;

• Investment Protection, which provides legal safeguards for investors of an RCEP Party and their investments in another RCEP Party, through requirements to provide Fair & Equitable Treatment and protections against expropriation;

• Investment Facilitation, which aims to streamline and simplify investment rules and procedures; and

• Investment Promotion, which aims to market ASEAN as an investment area.

Covers areas such as online consumer protection, online personal information protection, transparency, paperless trading and acceptance of electronic signatures.

Greater protection for non-traditional trademarks and ensuring acceptance of a single patent or trademark application across RCEP Participating Parties, saving costs and time for businesses.

Inclusion of competition law regimes and cross-border enforcement cooperation to protect business from anti-competitive activities.

Increased transparency through publication of laws, regulations and procedures.