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South East Asia the Focus of RCEP Trade Deal for Australia

The federal government is anticipating that the Regional Comprehensive Economic Partnership (RCEP) will facilitate easier trade with South East Asia giving Australia a better way of doing business with some of its biggest trading partners. Federal Minister for Trade Simon Birmingham said on Sunday that RCEP was “crucial” for Australia as it provides not just economic opportunity but also a chance to secure supply chains. “We see the opportunity for huge economic growth and trade growth between Australia and the nations of ASEAN, but also for integration of supply chains that can give Australians businesses easier and better access and greater diversification over time amongst those countries,” Birmingham said. ASEAN, the Association of Southeast Asian Nations, is a regional grouping that furthers economic, political, and security cooperation between the nations of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The push for the trade initiative by ASEAN …