The agreement could also be a boost to SMEs which comprise more than 90 percent of business entities across the 16 participating economies.

In this two-parter, The ASEAN Post takes a look at some of the major issues that could define the region in 2019.

The forum aimed to facilitate better understanding of the issues in the region and offer insights that affect decision-making processes and outcomes.

The role of ASEAN is even more pertinent as the world enters an era of global uncertainty.

The RCEP encompasses 25 percent global GDP, 45 percent of the total population, 30 percent of global income and 30 percent global trade.

One of the bigger talking points for this week’s summit is expected to be regional cooperation in terms of trade.

With Trump showing no signs of standing down, governments in the region which have embraced trade liberalisation are now on the back foot.

ASEAN’s digital economy is currently just seven percent of its GDP.

The mega trade deal, when completed, would be the largest of its kind in the world since the GATT Uruguay Round in 1994.

With market access unlocked, the world is an SME’s oyster.