Author: Julien Chaisse, City University of Hong Kong
Hong Kong recently applied to join the Regional Comprehensive Economic Partnership (RCEP). The underlying aim of RCEP is to create an integrated market across the region. RCEP accounts for roughly 30 per cent of the world’s output, trade and population.
RCEP membership is ‘open to any state or separate customs territory after the lapse of 18 months from the date of enforcement’. Accession is important for Hong Kong but also to RCEP as it opens up to new members. While there have been protests against Hong Kong’s ‘one country, two systems’ principle in the past, there appear no significant barriers or objections that would impede Hong Kong’s participation in RCEP.
Hong Kong has completed negotiations with ASEAN — a precondition for joining RCEP. ASEAN has declared that Hong Kong is ‘well-placed to add value to RCEP’. China is also supporting Hong Kong’s…