Australia, New Zealand, Thailand Ratify RCEP

Australia, New Zealand and Thailand officially ratified the Regional Comprehensive Economic Partnership Agreement, paving the way for a range of tariff and trade benefits with 12 other countries in the Asia Pacific region. The deal is scheduled to enter into force Jan. 1, 2022. Thailand submitted its ratification Oct. 28, the Bangkok Post reported Nov. 1. Australia and New Zealand ratified it Nov. 2, Australia’s foreign ministry said. The large trade deal will expand market access for RCEP member countries and includes provisions on intellectual property, e-commerce, competition and more (see 2011160028).