The Interplay of IPEF Between RCEP and CPTPP: An ASEAN Viewpoint

Abstract

ASEAN has emerged as a significant player in the Indo-Pacific region, as evidenced by its active engagement in major multilateral arrangements such as the Regional Comprehensive Economic Partnership (RCEP), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the latest addition, the Indo-Pacific Economic Framework (IPEF). IPEF has involved 7 out of 10 ASEAN Member States (AMS) as the initial members, making it apparent that ASEAN’s significance and role cannot be overlooked in the economic and security architecture of the region. This paper aims to investigate the interplay of IPEF between RCEP and CPTPP while at the same time examining the current debates and criticisms toward it. We also analysed IPEF’s potential to foster a positive and prosperous economic environment that brings practical benefits to ASEAN. Despite IPEF being one of the interests among ASEAN policymakers, there has been insufficient discussion that systematically investigates the interplay of IPEF, RCEP, and CPTPP within ASEAN’s perspective, and the understanding of it seems to be limited. Thus, this paper is intended to contribute to the knowledge and nascent debate on the current geo-economic literature in the Indo-Pacific.