Introduction

Through the AANZFTA Implementation Support Program (AISP) and RCEP Implementation Support Program (RISP), RT4D supports ASEAN Member States to better understand the similarities and differences between AANZFTA and RCEP.

Businesses can then effectively navigate trade opportunities and maximise the benefits offered by both agreements.

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Key information on both agreements:

Both agreements include mechanisms for economic cooperation and capacity building, supporting businesses in areas such as technology transfer, skills development, and market access facilitation.

Both agreements include provisions for investment facilitation and protection, creating opportunities for businesses to expand their investments within the region and attract investments from member countries.

Understanding the rules of origin is essential for businesses to qualify for preferential tariff treatment under both agreements. Each agreement has its own rules, which businesses must comply with to benefit from tariff reductions.

Market Access in Services

Both RCEP and AANZFTA enhance market access in services by reducing barriers and restrictions promoting the liberalisation across various sectors such as financial services, telecommunication, and education. This facilitates the temporary movement of businesspeople, improves regulatory transparency, and encourages mutual recognition of professional qualifications.

Market Access Benefits

Both RCEP and AANZFTA offer reducing tariffs and trade barriers among Parties. Businesses can leverage these agreements to access new markets and expand their export opportunities.

Both RCEP and AANZFTA address intellectual property rights issues, which are important for businesses to protect their innovations and intellectual assets in the region.

RCEP and AANZFTA both aim to streamline trade procedures and regulations, facilitating smoother supply chain integration within the region. Businesses involved in regional trade and production networks can benefit from these efforts.

Businesses should familiarise themselves with the regulatory requirements and standards under both agreements to ensure compliance and take advantage of regulatory harmonisation efforts within the region. RT4D supports ASEAN Member States to keep up to date with compliance and regulatory requirements to inform their stakeholders on key developments.