The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement that includes 15 countries in the Asia-Pacific region. It was signed in November 2020 and aims to enhance economic cooperation, reduce tariffs, and promote trade among its member nations, which include China, Japan, South Korea, Australia, and the ten member states of the Association of Southeast Asian Nations (ASEAN). RCEP is significant as it covers about 30% of the world's population and global GDP. By streamlining trade rules and fostering investment, it seeks to create a more integrated economic environment, benefiting businesses and consumers across the region.