The Regional Comprehensive Economic Partnership (RCEP) agreement, signed on 15 November 2020, is one of the world’s largest trade and investment pacts. It could give a significant boost to foreign direct investment (FDI) in the region.

The agreement comes at a time of major upheaval caused by COVID-19. The pandemic will lead to a drop in FDI in the region of about 15%. However, this compares favourably to a fall of 30-40% in global FDI, and the region looks set to lead the FDI recovery.