Considered one of the world’s largest regional free trade agreements, the Regional Comprehensive Economic Partnership (RCEP) stole the world’s attention once again as it entered into force on 1 January 2022.

One year has passed since the RCEP entered into force. It is the world's largest free trade deal comprising 10 Association of Southeast Asian Nations (ASEAN) countries, as well as China, Japan, the Republic of Korea (ROK), Australia and New Zealand.

2022 witnessed the first year that the Regional Comprehensive Economic Partnership (RCEP) officially came into force.

The Hong Kong government expects to begin discussions next year to join RCEP. RCEP should have the effect of lowering tariffs, expanding services trade, harmonising rules of origin and, for Hong Kong, establishing its role as a vital gateway into the fifteen cities of the Greater Bay Area.

Two-way trade between Vietnam and Australia is expected to surpass the projection of 15 billion USD and set a new record in 2022.

On November 18 2022, the Minister of Industry and Trade of Vietnam promulgated Circular No. 32/2022/TT-BCT, which amends Circular No. 05/2022/TT-BCT prescribing Rules of Origin under RCEP Agreement.

Cambodia's trade value with the other 14 members of RCEP topped $24 billion in the first nine months of 2022, marking a roughly one-tenth year-on-year increase, according to commerce ministry data.

The economic downturn and high inflation in many major export markets exerts difficulties on Vietnam’s textile exporters for 2023.

The World Bank's research (2022) forecast that Việt Nam's GDP would increase by about 4.9 per cent and exports would increase by 11.4 per cent by 2030.

Hong Kong expects to be joining the Regional Comprehensive Economic Partnership (RCEP) as the administration sets to discuss its inclusion with all 15 RCEP members next year.