RCEP Ratification Requirements concluded – Entry into Force on 1 January 2022

The Regional Comprehensive Economic Partnership (RCEP), which has been signed on 15 November 2020, will soon enter into effect. Prior to the entry into force it was subject to ratification, acceptance, or approval by each signatory state in accordance with its applicable legal procedures. The ratification instrument of a signatory state needs to be deposited with the Depositary, i.e. the Secretary-General of ASEAN. RCEP enters into force for those signatory States that have deposited their instrument of ratification, acceptance, or approval, 60 days after the date on which at least six signatory States which are Member States of ASEAN and three signatory States other than Member States of ASEAN have deposited their instrument of ratification, acceptance, or approval with the Depositary. This requirement has now been reached.

Thailand and Vietnam have submitted the ratification for RCEP on 28 and 29 October to the ASEAN-Secretariat. Previously Singapore, Brunei, Laos and Cambodia had submitted their ratification instruments already, which matches the required six ASEAN states. Furthermore, China, Japan, Australia and New Zealand have submitted their ratification instruments, the latter both on 2 November. This means that the requirements to formally launch the pact are now met, and RCEP will enter into force on 1 January 2022.

After this effective date, RCEP will enter into force for any other signatory state 60 days after the date on which it has deposited its instrument of ratification, acceptance, or approval with the Depositary. The RCEP signatories include the 10 ASEAN states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam) as well as Australia, China, Japan, New Zealand and South Korea.