RCEP: what the new trade bloc means for the Indo-Pacific and the UK

Policy Exchange’s Indo-Pacific Commission published its interim report on 22 November, arguing that the Indo-Pacific is the most important region for expanding UK trade after Brexit. This comes shortly after the recent agreement between fifteen countries in the region to form the Regional Comprehensive Economic Partnership (RCEP) – the world’s largest trade bloc when measured by population and GDP. So what is RCEP, and what does the new bloc mean for the Indo-Pacific region and the UK’s strategic approach to it?