Impact of RCEP on Malaysia: Gain or pain?

RCEP: Asean leaders signing the RECP agreement as seen on a TV screen. - Reuters

FOLLOWING the signing of the Regional Comprehensive Economic Partnership (RCEP), doors will soon open to attract more investments and swell Malaysia’s trade with partnering countries.

Almost 60% of Malaysia’s trade involve RCEP members and around 56% of Malaysia’s exports go towards the countries covered by the RCEP, given that Asean’s 10 members are Malaysia’s top trading partners (58% of total trade in 2019; exports share:56.4%; imports share:60.0%).