Australian minister highlights significance of RCEP amid global trade uncertainty
Australian Minister for Trade, Tourism and Investment Simon Birmingham has recently emphasised the importance of the Regional Comprehensive Economic Partnership (RCEP) agreement, which is expected to be signed on November 15 between 10 ASEAN countries and China, Japan, the Republic of Korea (RoK), New Zealand and Australia.
Australian Minister for Trade, Tourism and Investment Simon Birmingham (Source: The Guardian)
Sydney (VNA) – Australian Minister for Trade, Tourism and Investment Simon Birmingham has recently emphasised theimportance of the Regional Comprehensive Economic Partnership (RCEP) agreement,which is expected to be signed on November 15 between 10 ASEAN countries andChina, Japan, the Republic of Korea (RoK), New Zealand and Australia.
“It's a hugely symbolically significant agreement, coming ata time of global trade uncertainty,” he told local media. “It says in areally powerful and tangible way that our region, which has been the driver ofglobal economic growth, is still committed to the principles of trade, opennessand ambition”.
Birmingham said the RCEP is the world's largest free-trade deal, representing30 percent of global GDP and 30 percent of the world's population. It is thefirst time major trading partners like China, the RoK, Japan and Australia havejoined together in one agreement, reducing the reliance on a patchwork ofbilateral deals.
He added that Australian businesses in the services sectorwill benefit most from the deal, which will recognise qualifications andlicensing practices, while allowing them to operate remotely and set up officesthroughout the RCEP region.
The sector includes education, healthcare, accountants,engineering and legal service providers, and employs four out of fiveAustralians while accounting for up to 70 percent of Australia's GDP.
“It will make it much easier for what is a huge part of Australia's economy, totrade overseas,” Birmingham said. “Given the rise of the middle-income groupsacross many RCEP countries, there is a rising demand for more of those safe,high-quality health, education and other services that Australia is well placedto deliver”.
The deal will also strengthen supply chains with commonrules of origin and establish new e-commerce rules across the region, he added./.
The Regional Comprehensive Economic Partnership (RCEP) is expected to be signed at the 4th RCEP leaders' online meeting on November 15, with all of its texts and legal review work completed, Chinese Assistant Minister of Commerce Li Chenggang told a press conference on November 11.
The Association of Southeast Asian Nations (ASEAN) plays a central role in the region’s recovery and the post-COVID-19 regional order, said Australian Prime Minister Scott Morrison.
Thai Prime Minister Prayut Chan-o-cha and his Australian counterpart Scott Morrison have agreed to step up the two countries’ relationship to a strategic partnership.
The 11th ASEAN-UN Summit and the 4th Regional Comprehensive Economic Partnership (RCEP) Summit are scheduled to take place via video conference on November 15, the last working day of the 37th ASEAN Summit and Related Summits.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Australian Minister for Trade, Tourism and Investment Simon Birmingham (Source: The Guardian) 
