Australia keen on penning RCEP trade pact this year despite disputes with China – SCMP


According to a story carried by the South China Morning Post (SCMP), Australian Treasurer Josh Frydenberg said that the souring diplomatic relationship with China will not impede the progress of the Regional Comprehensive Economic Partnership (RCEP).

“Australia would continue to advocate behind closed doors for a deal that is in its interests,” Frydenberg said last week.

Separately, the Australian Department of Foreign Affairs and Trade also said last Wednesday that there was no change in Australia’s commitment to sign the RCEP.

Market reaction

The above headlines seem to be ignored by the AUD bulls, as AUD/USD holds the higher ground amid the upbeat market mood.

At the press time, AUD/USD trades with 0.32% gains around the 0.6970 region.

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