Representatives of 15 countries on 15 November 2020 signed a free trade agreement—the Regional Comprehensive Economic Partnership (RCEP) Agreement.
The RCEP agreement is the culmination of eight years of negotiations and was signed by certain ASEAN member nations (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam) and by ASEAN’s free trade agreement partners (Australia, China, Japan, New Zealand, and Republic of Korea).
According to a release from the Australian government, benefits under the trade agreement for Australia will be:
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