Australian Grape & Wine (AGW) has welcomed Australia’s signing of the Regional Comprehensive Economic Partnership (RCEP) last weekend.

RCEP is an extensive multilateral trade agreement which sees Australia partner with Brunei-Darussalam, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Thailand and Vietnam.

AGW chief executive Tony Battaglene said “Australia’s grapegrowers and winemakers have benefited enormously from free and rules-based trading arrangements over many years”.

“Our businesses now export more than 60% of production to a value of almost $3 billion per annum and the RCEP markets represent around half of that total value.

“There’s no doubt our businesses are having their most challenging year on record – drought, fires, smoke, COVID-19, and now further trade challenges.”

“RCEP presents an opportunity to further liberalise markets across some of the most dynamic emerging markets in the Indo-Pacific region,” continued Battaglene.

“It also provides a platform for strategic dialogue on mutually beneficial economic and trade issues in the future.”

In a very challenging year, Australia’s grapegrowers and winemakers are looking for opportunities to recover and thrive in the future.

“We note the door is open for India to join RCEP in the future and we hope RCEP members can continue to encourage India to sign up,” said Battaglene.

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