Australia to Sign World’s Biggest Trade Agreement With 15 APAC Nations

China, New Zealand Included, India Out

Australian Trade Minister Simon Birmingham (right) and Australian Prime Minister Scott Morrison react after signing the Regional Comprehensive Economic Partnership (RCEP) during a virtual signing ceremony at Parliament House in Canberra, Australia, on Nov. 15, 2020. AAP Image/Lukas Coch

Australia is entering into the biggest trade agreement ever—a 15-nation partnership that accounts for nearly a third of the global economic output.

Prime Minister Scott Morrison and Trade Minister Simon Birmingham will sign the Regional Comprehensive Economic Partnership (RCEP) for the Asia-Pacific region on Sunday, an agreement that covers around 30 percent of the world’s population.