Chinese and Australian companies sign 11 trade deals worth US$1.5 billion at RCEP Fair

158
RCEP Fair

25th May 2023 – (Nanning) Chinese and Australian companies have signed eleven trade and cooperation project deals worth a total of 10.3 billion yuan (approximately 1.5 billion U.S. dollars) on Thursday. The projects will cover areas such as resources, food, and medicine, according to the China Council for the Promotion of International Trade Guangxi Committee. The deals were signed at an RCEP trade and investment fair, which was held in both Australia and southern China’s Guangxi Zhuang Autonomous Region to promote Sino-Australian trade and investment.

Both China and Australia are members of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade deal, which includes ten Association of Southeast Asian Nations (ASEAN) countries, as well as Japan, the Republic of Korea (ROK), and New Zealand. The RCEP entered into force on January 1, 2022.

Sui Guohua, Vice Chair of the regional government of Guangxi, stated that Guangxi is utilizing its unique location to deepen cooperation with RCEP members. She called on Guangxi and Australia to deepen mutually beneficial cooperation and explore business opportunities brought by the RCEP.