Update on the RCEP negotiations, an ASEAN-centred proposal for a regional free trade area which initially includes the ten ASEAN member states (and hence Malaysia) plus those countries which have existing FTAs with ASEAN (Australia, China, India, Japan, Republic of Korea and New Zealand). The negotiations were launched in November last year, with the first round yet to take place. The RCEP will build on and expand Australia’s existing FTA with ASEAN and New Zealand, AANZFTA. It will complement Australia’s participation in bilateral trade negotiations and in Trans-Pacific Partnership Agreement (TPP) negotiations.
Attached is a summary of RCEP, including links to further information on DFAT’s website. The DFAT Background Papers under the ‘For Business’ tab make an interesting read and provides further insight into the benefits for Australian business.