February 18 2021 On November 15 2020, 15 countries signed the Regional Comprehensive Economic Partnership (RCEP) agreement, including China, Singapore, Thailand, Japan, South Korea, Australia and New Zealand. These countries represent around 30% of the world’s population and around 30% of global gross domestic product (GDP). The RCEP agreement eliminates tariffs on a variety of goods from New Zealand, addresses non-tariff barriers, creates competition rules, and makes commitments regarding services and investment market access. These changes are aimed at streamlining trade and reducing red tape, improving transparency around investments and modernising trading relationships. RCEP outcomes on intellectual property The RCEP agreement aims to reduce impediments to trade and investment by creating a range of obligations relating to the creation, utilisation, protection and enforcement of IP rights. Most of these obligations mirror those established by the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), which all 15 signatory countries of the RCEP have ratified.