Regional trade deal to boost export opportunities for Aussie farmers and businesses
Australian farmers and businesses are set to benefit from better export opportunities with the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement between Australia and 14 other Indo-Pacific countries.
Prime Minister Scott Morrison said the signing of this long-awaited agreement signalled our region’s shared commitment to open trade and investment, despite the challenges of COVID-19.
- A new single set of rules and procedures for accessing preferential tariffs in any of the 15 RCEP markets
- New scope for trade in services throughout the region including across telecommunications, professional and financial services.
- Improved mechanisms for tackling non-tariff barriers including in areas such as customs procedures, quarantine and technical standards.
- Greater investment certainty for businesses.
- Rules on e-commerce to make it easier for businesses to trade online.
- A common set of rules on intellectual property.
- Agreed rules of origin that will increase the competitiveness of Australian inputs into regional production chains.
For more on the Regional Economic Partnership Agreement click here.