The Comprehensive Economic Partnership for East Asia (CEPEA) is a Japanese led proposal for trade co-operation and

free trade agreement A free trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating state (polity), states. There are two types of trade agreements: Bilateralism, bilateral and Multilateralism, m ...

among the 16 present member countries of the

East Asia Summit The East Asia Summit (EAS) is a regional forum held annually by leaders of, initially, 16 countries in the East Asian, Southeast Asian, South Asian and Oceanian regions, based on the Association of Southeast Asian Nations#ASEAN Plus Three and A ...

. All those movements and efforts were taken over by the following

Regional Comprehensive Economic Partnership The Regional Comprehensive Economic Partnership (RCEP ) is a free trade agreement among the Asia-Pacific countries of Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, the Philippines, S ...

Countries involved

The 16 countries are: *

Southeast Asia Southeast Asia is the geographical United Nations geoscheme for Asia#South-eastern Asia, southeastern region of Asia, consisting of the regions that are situated south of China, east of the Indian subcontinent, and northwest of the Mainland Au ...

: the 10 members of

ASEAN The Association of Southeast Asian Nations, commonly abbreviated as ASEAN, is a regional grouping of 10 states in Southeast Asia "that aims to promote economic and security cooperation among its ten members." Together, its member states r ...

** except for *** *** *** *** *** *** *** *** *** *** *

East Asia East Asia is a geocultural region of Asia. It includes China, Japan, Mongolia, North Korea, South Korea, and Taiwan, plus two special administrative regions of China, Hong Kong and Macau. The economies of Economy of China, China, Economy of Ja ...

: the three members of ASEAN Plus Three ** ** ** *

South Asia South Asia is the southern Subregion#Asia, subregion of Asia that is defined in both geographical and Ethnicity, ethnic-Culture, cultural terms. South Asia, with a population of 2.04 billion, contains a quarter (25%) of the world's populatio ...

and

Oceania Oceania ( , ) is a region, geographical region including Australasia, Melanesia, Micronesia, and Polynesia. Outside of the English-speaking world, Oceania is generally considered a continent, while Mainland Australia is regarded as its co ...

: ** ** **

Background

The concept has been in discussion stages since 2006 but gained momentum in 2008 and 2009 when

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

and

; and

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

New Zealand New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of isla ...

and

respectively concluded free trade agreements. The CEPEA proposal was advanced by Japan in conjunction with the establishment of the Economic Research Institute for ASEAN and East Asia (ERIA). The two mechanisms are designed to be mutually supporting liberalisation and co-operation. The details of the concept and its relationship with other proposals for the region, such as the East Asian Community, remain unclear. An alternative proposal based on the 13 members of the ASEAN Plus Three is called the East Asia Free Trade Agreement (EAFTA). The Third East Asia Summit agreed that a final report on the CEPEA proposal was to be received at the Fourth East Asia Summit which was held in October 2009. The Chairman's Report for the Fourth East Asia Summit (25 October 2009) stated:

19.We noted the final Phase II Report of the Track Two Study Group on Comprehensive Economic Partnership in East Asia (CEPEA) and welcomed the decision of our Economic Ministers who met in Bangkok on 15 August 2009 to task the Senior Economic Officials to discuss and consider the recommendations in the Phase I and II reports. CEPEA and East Asia Free Trade Area (EAFTA) could be examined and considered in parallel.

The report for the ASEAN Plus Three meeting, held the day before with 13 of 16 of the same members, also stated:

13.We noted the final report of the Phase II feasibility study of the East Asia Free Trade Area (EAFTA) and welcomed the decision of 12th AEM Plus Three Consultations in Bangkok on 15 August 2009 to task the Senior Economic Officials to discuss and consider the recommendations in the Phase I and II reports. EAFTA and Comprehensive Economic Partnership in East Asia (CEPEA) could be examined and considered in parallel.

The Chairman's Statement of the 16th ASEAN Summit (9 April 2010) stated:

30. We noted the initiatives being undertaken to take forward broader regional integration by considering the recommendations of both East Asia Free Trade Agreement (EAFTA) and the Comprehensive Economic Partnership for East Asia (CEPEA) studies together. We looked forward to receiving the progress report at the 17th ASEAN Summit in October 2010 and to discussing with our Dialogue Partners the future direction of regional architecture with ASEAN at its core.

By August 2010 working groups involving the 16 nations to study Economic Cooperation, Rules of Origin, Customs Procedures and Tariff Nomenclature had been formed. In August 2011, East Asia Summit Economic Ministers welcomed a Chinese and Japanese joint 'Initiative on Speeding up the Establishment of EAFTA and CEPEA'.

East Asia Free Trade Agreement

13 of the 16 nations (excluding India, Australia and New Zealand) are also simultaneously negotiating an East Asia Free Trade Area. The two processes are not alternatives and both are being pursued simultaneously

Current arrangements

The 16 members are presently involved in a series of separate arrangements among the members of the grouping. The 10 members ASEAN have established the

ASEAN Free Trade Area The ASEAN Free Trade Area (AFTA) is a trade bloc agreement by the Association of Southeast Asian Nations supporting local trade and manufacturing in all ASEAN countries, and facilitating economic integration with regional and international all ...

. Australia and New Zealand have the long established Closer Economic Relations. Between the 16 members bilateral and multilateral arrangements are in place or under negotiation. ASEAN has the following arrangements in place: ** the ASEAN–China Free Trade Area came into force on 1 January 2010; ** a comprehensive economic partnership agreement with Japan came into force on 1 December 2008; ** the ASEAN Korea Free Trade Agreement, the trade in goods provisions came into effect on 1 June 2007, an agreement for trade in services was signed in 2007 and the trade in investments provisions were signed in 2009; ** a free trade agreement with Australian and New Zealand (jointly) AANZFTA that came into force on 1 January 2010; ** the ASEAN-India Trade in Goods (TIG) Agreement came into effect on 1 January 2010.India formally signs Trade in Services & Trade in Investments Agreement wit
ASEAN
'' India has formally signed the Trade in Services & Trade in Investments Agreement with ASEAN. The Services Agreement will open up opportunities of movement of both manpower and investments from either side between India and ASEAN. Nine out of ten ASEAN countries have signed the same. Philippines is completing its domestic procedure and it is expected to sign soon; plus China, Japan and South Korea are researching (as at October 2009) a joint arrangement between the three countries ( China–Japan–South Korea Free Trade Agreement) with talks hoped to commence in 2012; plus China has the following additional arrangements in place: ** China–South Korea Free Trade Agreement - came into force 20 December 2015; ** China–Australia Free Trade Agreement - came into force 20 December 2015; ** the New Zealand – China Free Trade Agreement came into force 1 October 2008; ** a feasibility study on an arrangement with India was positively concluded in 2007; plus Japan has the following additional arrangements in place: ** negotiations with South Korea on an arrangement but which have been suspended since 2004; ** Japan–Australia Economic Partnership Agreement - negotiations with Australia on an arrangement; ** negotiations with India on an arrangement; ** conducting a feasibility study with New Zealand as of (14 May 2008) plus South Korea has the following additional arrangements in place: ** Australia–Korea Free Trade Agreement - negotiations with Australia on an arrangement; ** negotiations with New Zealand on an arrangement; ** India and South Korea signed a comprehensive economic partnership agreement in August 2009; plus Australia has the following additional arrangements in place: ** as noted above Closer Economic Relations with New Zealand; ** a feasibility study with India about entry into an arrangement; plus India has the following additional arrangements in place: ** a feasibility study with New Zealand about entry into an arrangement; plus multiple additional bilateral arrangements between one or more ASEAN members separately. In addition individual members of ASEAN may also have other arrangements in place beyond the arrangements negotiated by ASEAN as a bloc i.e., Singapore by itself outside of ASEAN has a series of FTAs.Singapore's FTAs
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External links

Market Access Map
(A free tool developed by International Trade Centre, which identify customs tariffs, tariff rate quotas, trade remedies, regulatory requirements and preferential regimes applicable to products, including Comprehensive Economic Partnership for East Asia)
Rules of Origin Facilitator
(A free tool jointly developed by International Trade Centre,

World Trade Organization The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that g ...

and

World Customs Organization The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium. Notable projects include its collaboration with the WTO on trade facilitation and the implementation of the SAFE Framework of Standar ...

which enables traders to find specific criteria and general origin requirements applicable to their products, understand and comply with them in order to be eligible for preferential tariffs. The tool is very useful for traders who want to gain benefit from Comprehensive Economic Partnership for East Asia)

References