Brunei Darussalam has ratified the Regional Comprehensive Economic Partnership (RCEP)
agreement upon depositing its instrument of ratification with the Secretary-General of
ASEAN on 11 October 2021.
Brunei Darussalam’s timely ratification of the RCEP agreement signals our strong
commitment to support the region’s post-pandemic recovery efforts, strengthening our
economic and trade linkages, creating new opportunities for our businesses as well as
support for an open, inclusive, rules-based multilateral trading system.
The RCEP Agreement was signed virtually at the 4th RCEP Summit on 15 November 2020
by ASEAN Member States namely Brunei Darussalam, Cambodia, Indonesia, Laos,
Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam and ASEAN
dialogue partners Australia, China, Japan, Republic of Korea and New Zealand. Launched
in 2012, the 8 years negotiated Agreement establishes a modern, comprehensive, highquality and mutually-beneficial economic partnership between ASEAN and its Free Trade
Agreement (FTA) partners.
Being the world’s largest regional FTA comprising about 30% of global GDP and about a
third of the world’s population, Brunei Darussalam is expected to benefit from the RCEP
as it will broaden and deepen our economic ties between the members and provide new
opportunities for our producers and businesses especially in terms of market access given
the level of liberalization for trade in goods, services and investment.
Realising that its full potential can only be achieved once the Agreement enters into force,
Brunei Darussalam looks forward to its RCEP partners to expedite their respective
domestic ratification procedures for the timely entry into force of the Agreement.
The RCEP Agreement will enter into force 60 days after six (6) ASEAN Member States and
three (3) ASEAN FTA Partners have deposited their instrument of ratification, acceptance
or approval with the Secretary General of ASEAN, as the designated Depository for the
RCEP Agreement. The RCEP Agreement is targeted to enter in force on 1 January 2022.