Tricor Group’s 2021 Asia Pacific Trade Report focuses RCEP impact on Malaysia, COVID-19 recovery

KUALA LUMPUR, Feb 2 -- Tricor Group (Tricor), the leading business expansion specialist in Asia has released the 2021 Asia Pacific Trade Report focusing on impact of the Regional Comprehensive Economic Partnership Agreement (RCEP) on Malaysia and COVID-19 recovery.

When compared to other transnational free trade agreements, the RCEP, which was signed by Malaysia and 14 other countries last November is expected to be implemented sometime this year.

It is unrivalled in its complexity and remarkably lays the framework for a pan-Asian basic standard for trade that surpasses the terms provided by the World Trade Organization (WTO), according to Tricor Group’s 2021 Asia Pacific Trade Report.

The report, released recently to media outlets and prominent business leaders, applies industry data from a multitude of research and media sources to offer perspectives, insights, observations and projections.

It is compiled by senior Tricor executives on how global trade trends will impact APAC trade and investment activity in the year ahead, according to a statement.

In particular, the report focuses on how the landmark implementation of the RCEP in 2021 is likely to enhance market openness and create new opportunities for global enterprises in Malaysia and APAC against the challenging backdrop of COVID-19 pandemic recovery.

Within the report, Tricor details the provisions of the RCEP and offers a summary of steps companies can take to prepare themselves to capitalise on the agreement and the business growth potential it offers.

The report also contains a detailed guide to doing business in Malaysia as well as other key RCEP markets where Tricor maintains influential market presence, including Australia, mainland China, Japan, Singapore, South Korea, Thailand and Vietnam.

The RCEP is particularly significant for the future of trade and investment in Malaysia, as the deal is projected to drive critical domestic regulatory reforms in key areas such as labour laws, investment liberalisation, cybersecurity, data security and protection of intellectual property.

-- BERNAMA