Malaysia: Ratification of RCEP free trade agreement
Malaysia will become the 12th signatory country to implement the Regional Comprehensive Economic Partnership (RCEP) agreement.
12th signatory country to implement the RCEP agreement
Malaysia in January 2022 submitted its “instrument of ratification” to the Association of Southeast Asian Nations (ASEAN) Secretariat.
Malaysia on 18 March 2022 will become the 12th signatory country to implement the Regional Comprehensive Economic Partnership (RCEP) agreement. Malaysia joins Australia, Brunei, Cambodia, China, Japan, Laos, New Zealand, Singapore, South Korea, Thailand, and Vietnam—all that have completed their respective ratification processes.
RCEP covers, among others:
- Elimination or reduction of import duties
- Promotion, facilitation, protection and investment liberalization
- Protection of intellectual property rights, facilitation in e-commerce
- Economic and technical cooperation
Read a March 2022 report prepared by the KPMG member firm in Malaysia
Background
The RCEP agreement entered into force in January 2022. Read TaxNewsFlash
For background and more information about the RCEP agreement, read a KPMG report (2020).
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