PERCEIVED BENEFITS FROM RCEP AND TPP
Since tariff rates have already been lowered for the countries involved, “behind the border”
issues or trade facilitation measures may gain prominence. These may include publication
of customs laws and regulations, trade procedures and documentation, product standard
and conformation and trade-related infrastructure and services. According to ADB, while
Asia-Pacific is home to some of the best trade facilitation performers in the world (such as
Singapore and Hong Kong), the region also houses some of the worst performers (Table
3). Both RCEP and TPP are expected to pay more attention to this aspect of trade, with
more specific assistance being given to SMEs so that they can benefit from the mini-lateral processes.