Navigating new trade winds : the EU's strategic response to RCEP in a shifting global economy

The trade strategy of the European Union has experienced substantial transformations in the initial two decades of the millennium, focusing on Asia, the strategy emphasises competitive bilateralism, shared values, and alignment with European trade standards. The EU's trade strategy has been influenced by Asia's economic expansion, trade interdependence, and regional accords such as the Regional Comprehensive Economic Partnership (RCEP). The significance of the RCEP for Europe is contentious, with sceptics emphasising its superficial characteristics and optimists underscoring its potential for trade and investment unification. The RCEP, an integral element of the Association of Southeast Asian Nations (ASEAN), represents a substantial transformation in regional economic collaboration. This paper examines the significant role of the EU in global trade agreements, focusing on its impact on the development of sustainable business practices, diplomatic relations, and economic progress. This paper is a descriptive analysis of the consequences of RCEP for the EU, including the challenges it presents and the opportunities it offers.