These factors became very apparent during the November 2012 ASEAN summit, when two different approaches to trade liberalisation became clear. One is the ASEAN-led Regional Comprehensive Economic Partnership (RCEP) and the other is the US-led TransPacific Partnership (TPP). It was also decided during the meetings that the US will be able
to build its trade relationship with ASEAN through the Expanded Economic Engagement (E3) initiative.