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Policy Briefs

Policy Brief No.7

By January 23, 2021October 29th, 2023No Comments

RCEP and Intra-ASEAN Trade

Boosting the share of intra-ASEAN trade has long been an important part of ASEAN’s economic integration efforts. The ASEAN Economic Community established in 2015 is committed to increasing intra-ASEAN trade not only in terms of trade volumes but also as a proportion of total trade flows. Unfortunately, this percentage has remained stubbornly in the twenties for decades despite the reduction of tariffs between ASEAN member states. It currently rests at a quarter of total ASEAN trade, only about half the level of intra-European Union trade and worse when compared with intra-North American trade.