Considering the magnitude of the mega trade agreement's potential effects on economies, encompassing 2.2 billion people and $38,813 billion in regional GDP, some have questioned its legitimacy. When compared to other contemporary trade agreements, RCEP's tariff reductions are less substantial, and the deal has added complexity to the region's existing set of overlapping bilateral and regional FTAs. The 'ASEAN Way' of RCEP is characterized by promises that are made gradually and that allow for the varying degrees of development among member nations. It is not a blanket pledge to lower tariffs, but rather individual pledges to do so in comparison to other exporting members over the course of 20 years.

Non-tariff measures are becoming more important, which may undermine RCEP's ability to increase merchandise trade. Since the RCEP's signature in November 2020, RCEP member states have begun approximately 600 detrimental actions against one another, bringing the total number of such interventions to over 6,000. There are many different kinds of trade interventions, such as tariffs, quotas, enacting local content requirements, or requiring licenses to export goods.

Meanwhile, the 20 chapters of the RCEP legislative language include no explicit commitment to banning non-tariff trade obstacles. The Asian Development Bank concluded that the RCEP's non-tariff measure provisions are less comprehensive than those of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership since they do not include the WTO-plus clause. Consider the chapter on trade remedies, which seems to allow government discretion while also raising questions about the efficiency and predictability of tariff reductions.

When it comes to competition, state-owned companies, and e-commerce, RCEP does not need any significant adjustments in the agricultural or service sectors. Environmental or labor issues are not addressed in any way under the agreement.

Reducing non-tariff measures is an important goal that may not be high on each member's priority list, but it must be accomplished alongside RCEP obligations. Some nations continue to apply non-tariff measures in a rather flexible fashion, even after RCEP went into effect in 2022.

Even though it has not signed the agreement, Indonesia has lately instituted export limits on crude palm oil products. These controls include export licensing, export quotas, and temporary bans. Similarly, the Philippines has not approved RCEP because it has not won over the country's farmers. The three least developed ASEAN nations (Cambodia, Laos, and Myanmar) may have trouble implementing and realizing the advantages of RCEP, especially the new WTO-plus measures. It is the responsibility of each member nation to ensure that its domestic policies and interests are consistent with RCEP.

However, the contribution of RCEP to the expansion of trade among its members should not be overlooked. Many free trade agreements (FTAs) between ASEAN and the other 10 countries in the area, known as "ASEAN+1," have complex rules of origin that RCEP is expected to simplify. Because of this, the agreement will be used more often and supply chain and administrative hassles will be greatly reduced.

There is additional significance in the institutional guarantees provided by the RCEP. The development of a joint committee and subsidiary body is required to allow for the discussion of differences in interpretation and the consideration of recommendations for revisions, which may lead to the enhancement of chapters dealing with non-tariff measures. It's worth noting that the subsidiary organization in charge of goods trade may have a significant impact on efforts to standardize customs processes and international norms.

RCEP, like the WTO, has a section on how disagreements will be resolved in the event that they arise. Members of the World Trade Organization make good use of the organization's appellate body, despite questions about the body's efficacy. In the same vein, it would be good for RCEP members to have access to a comparable dispute resolution process in order to limit the use of detrimental non-tariff measures.

Although present commitment is small and only slight tariff reductions are projected, the RCEP agreement is building the biggest trading zone in the world, favorable to decreasing non-tariff measures. For the region's global value chains, RCEP's most important contribution has been the harmonization of origin regulations. However, the advantages of RCEP are not guaranteed; in order to maximize their outcomes, member nations must ensure that their domestic policies are in line with the agreement.