INAC analyzes how Uruguayan meat exports will be affected by the new RCEP trade agreement

On Sunday, November 15, the creation of the world's largest trade agreement was signed: the Regional Comprehensive Economic Association (RCEP, for its acronym in English). The free trade agreement involves 15 countries: the members of the Association of Southeast Asian Nations (ASEAN) (Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Burma and Cambodia), China, Japan, Korea South, Australia and New Zealand. These countries represent 30% of the population and 30% of GDP globally. In terms of meat trade, RCEP members accounted for 21% of world exports, adding beef, pork, poultry, sheep, and offal in value in 2019. The main exporters were Australia and New Zealand, which together accounted for 89 % of the block's exports of all meats. On the import side, the RCEP absorbed 50% of the international trade flow in value of these products. China, Japan and South Korea were the main importers, representing 88% of the block's imports in value. Beef was the ...