Asia Regional Integration Center

The COVID-19 pandemic has widened budget deficits in many Southeast Asian economies through lower tax revenue and higher spending on healthcare and recovery. This leaves less revenue to invest in social and economic development...

The Regional Comprehensive Economic Partnership (RCEP) agreement, a major regional trade agreement in Asia, was signed a year ago as the pandemic fueled economic uncertainty. Now, key elements of the pact could prove instrumental in aiding the region’s recovery in 2022 and beyond.

Developing Asia is estimated to have fended off the scarring impact of investment decline relatively well during the pandemic compared to other developing regions such as Latin America and Africa.

Migration in the Asia-Pacific region is diverse and enduring. It cannot be handled by one country alone. Regional cooperation is needed.

Regional or international agreements on vaccine passes are still lacking. Current travel bubbles between places with low COVID-19 risks are rare and fragile.

By determining the origin of a product, rules of origin are the plumbing of a free trade agreement. Only goods originating in the RCEP region will be granted duty free or reduced rate of duty when exported to regional partners.