Negotiations on the Trans Pacific Partnership (TPP) are still alive after the US withdrew from negotiations in the wake of Donald Trump’s electoral victory.
Trade minister Steven Ciobo last weekend met with ministers from TPP countries to continue discussions on the trade agreement.
“At the first meeting of TPP-11 countries in Chile in March, ministers tasked officials to work on all options for locking in TPP outcomes, including a TPP-11 agreement,” Mr Ciobo said.
The meeting took place in Hanoi, Vietnam, where Mr Ciobo was taking part in the Asia-Pacific Economic Cooperation (APEC) trade ministers meeting.
He said he would affirm Australia’s support for an open, rules-based trading system and a collective response to the current challenges facing regional and global trade.
Also in Hanoi, Mr Ciobo attended a Regional Comprehensive Economic Partnership (RCEP) ministerial meeting.
Mr Ciobo said RCEP promises new market access opportunities for Australian businesses and improved access to regional supply chains.
“It will further integrate Australia into the fastest growing region in the world and simplify the regional trade and investment environment for Australian companies,” he said.