Hanoi (VNA) – Australian Prime Minister Scott Morrison said onNovember 15 that the signing of the long-waited Regional Comprehensive EconomicPartnership (RCEP) Agreement showed the region’s shared commitment to opentrade and investment, despite the challenges of COVID-19.
“Our trade policy is all about supporting Australian jobs,boosting export opportunities and ensuring an open region with even strongersupply chains. RCEP builds on our trade successes and is good news forAustralian businesses,” Morrison said in a statement.
With one in five Australian jobs reliant on trade, the RCEPagreement will be crucial as Australia and the region begin to rebuild from theCOVID 19 pandemic, he stressed.
This agreement covers the fastest growing region in theworld and, as RCEP economies continue to develop and their middle classes grow,it will open up new doors for Australian farmers, businesses and investors, headded.
On the same day, New Zealand Prime Minister Jacinda Ardernsaid that securing free trade agreements like the RCEP is an important part ofNew Zealand's Trade Recovery Strategy.
She affirmed joining in RCEP put New Zealand in the bestpossible position to recover from the economic impacts of the pandemic andseize new opportunities for exports and investment.
She specifically mentioned that New Zealand primaryindustries and education will directly benefit from the agreement.
Meanwhile, Indonesian President Joko Widodo said that thesigning of the agreement on November 15 has demonstrated the commitments ofpeace and stability as well as prosperity within the region.
During the 4th RCEP Summit held virtually, Widodo statedthat the signing was a historical moment as its process took nearly a decadeafter being initiated in 2011, and the first round of negotiation was conductedin 2013.
The pact will intensify the principle of an open, fair andbenefited all-sides multilateral commerce, and provides hope and optimisticview on economic recovery for post-pandemic era throughout the region, headded./.
VNA