This week I will visit Singapore to advancenegotiations for the Regional Comprehensive Economic Partnership (RCEP) withAustralia's major regional trading partners.
The RCEP presents major opportunities forAustralian businesses and investors. Of the 16 Indo-Pacific countries involvedin the negotiations, ten are among Australia's top 15 trading partners.
Partnership countries account for more than 60 percent of Australia's two-way trade, almost half of the world's population andover 30 per cent of global GDP.
RCEP has the potential to contribute to thedevelopment of a region-wide trade and investment zone. By ensuring the RCEPbuilds on our existing Free Trade Agreements, the Australian Government willhelp local businesses have greater access to value chains across Asia.
The Australian Government is committed tostrengthening economic linkages with the most dynamic region in the world andcreating better commercial opportunities for local business.