The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement involving 15 countries in the Asia-Pacific region. It includes the ten member states of the Association of Southeast Asian Nations (ASEAN) and five of their major trading partners: China, Japan, South Korea, Australia, and New Zealand. RCEP aims to enhance economic cooperation, reduce tariffs, and promote trade among its members. Signed in November 2020, RCEP is one of the largest trade agreements in the world, covering about 30% of the global economy and population. The agreement seeks to streamline trade rules, improve market access, and foster investment, benefiting businesses and consumers across the region.