Myanmar will benefit from the ambitious Regional Comprehensive Economic Partnership (RCEP), said ASEAN secretary Lim Jock Hoi. Lim argued that while Myanmar will not actually sign the 16-nation agreement, it would certainly benefit from it indirectly. Lim added that he is optimistic Myanmar would eventually become a full-blown signatory when its trade infrastructure is more developed.

RCEP, which has been in development since 2013, is set to include several ASEAN nations and key Asian trade partners, including China, India, Japan, South Korea, Australia and New Zealand. If successful, the deal would become one of the world’s largest trade blocs. “The objective of launching RCEP negotiations is to achieve a modern, comprehensive, high-quality, and mutually beneficial economic partnership agreement among the ASEAN Member States and ASEAN’s FTA partners,” according to the ASEAN official web site.

However, RCEP has several hurdles to overcome before it will be benefiting any nation, directly or indirectly. The ongoing trade war between South Korea and Japan has cast a shadow over negotiations. India, too, is wary of the deal’s impact on its domestic industries. Indeed, a parallel deal that does not include India is being planned, according to Indian newspaper Business Today. The latest round of RCEP negotiations began in Bangkok on October 10th.