Malaysia: Ratification of RCEP free trade agreement

Malaysia will become the 12th signatory country to implement the Regional Comprehensive Economic Partnership (RCEP) agreement.

12th signatory country to implement the RCEP agreement

Malaysia in January 2022 submitted its “instrument of ratification” to the Association of Southeast Asian Nations (ASEAN) Secretariat.

Malaysia on 18 March 2022 will become the 12th signatory country to implement the Regional Comprehensive Economic Partnership (RCEP) agreement. Malaysia joins Australia, Brunei, Cambodia, China, Japan, Laos, New Zealand, Singapore, South Korea, Thailand, and Vietnam—all that have completed their respective ratification processes.   

RCEP covers, among others:

  • Elimination or reduction of import duties
  • Promotion, facilitation, protection and investment liberalization
  •  Protection of intellectual property rights, facilitation in e-commerce
  • Economic and technical cooperation

Read a March 2022 report prepared by the KPMG member firm in Malaysia

Background

The RCEP agreement entered into force in January 2022. Read TaxNewsFlash

For background and more information about the RCEP agreement, read a KPMG report (2020).

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.