The Assistant Minister for Foreign Affairs, the Hon Tim Watts, represented Australia at the Second Regional Comprehensive Economic Partnership Agreement (RCEP) Ministers' Meeting held in Semarang, Indonesia on 21 August in the sidelines of the 55th ASEAN Economic Ministers' Meeting.
RCEP Ministers welcomed the entry into force of the Regional Comprehensive Economic Partnership (RCEP) Agreement for Indonesia and the Philippines, on 2 January 2023 and 2 June 2023, respectively. Australia praised RCEP for cementing ASEAN at the centre of the regional economic architecture and providing a foundation for economic cooperation activities to expand regional trade and investment.
RCEP Ministers issued a Joint Media Statement expressing optimism that RCEP will enable businesses to pursue new opportunities and deepen regional economic integration.