For years UNCTAD has argued that hyperglobalisation, and the free trade agreements that promote it, has created unsustainable levels of instability, inequality, insecurity and ecological harm and called for a new paradigm of trade rules that is participatory and development-friendly, recognises the role of regulation and local political oversight, and can promote a level playing field and prosperity for all. The final RCEP argument is a symptom of that malaise - a step back from the excesses of the TPPA, but is a long way from a new paradigm.
Association of South Eastern Nations
This new Continental Free Trade bloc is now entrusted with the competence to engage other FTA Blocs such as the European Union (EU), North American Free Trade Area (NAFTA) and Association of South Eastern Nations (ASEAN), on trade policy from an Afri-Centric perspective - the essence of Afri-Multilateralism. Hitherto, the various national governments across the Continent had engaged global trade from the prism of nationalistic interests but this new paradigm affords Africa, for the first time, an opportunity to engage on trans-Sahara, trans-Atlantic and trans-Pacific negotiations on an equal footing, and not under the auspices of 'emerging countries' or LDCs.