On 15 November 2020, Ministers from 15 countries signed the Regional Comprehensive Economic Partnership, a regional free trade agreement that complements Australia’s existing free trade agreements with Indo-Pacific countries.
The Partnership contains commitments covering trade in goods, trade in services, investment, economic and technical cooperation, and new rules for electronic commerce, intellectual property, government procurement, competition, and small and medium sized enterprises.
A Regulation Impact Statement (RIS) was prepared and certified by the Department of Foreign Affairs and Trade, and has been assessed as consistent with Best Practice by the OBPR.
The OBPR considers the RIS contains a degree of detail and depth of analysis that is commensurate with the likely impacts of the proposal.