South East Asian trade

April 24, 2021

The Joint Standing Committee on Treaties (JSCOT) has published Article Three’s submission on the Regional Comprehensive Economic Partnership agreement (RCEP), which is currently being considered by the Committee.

Our key take on the agreement is as follows:

RCEP will benefit Australia by helping to strengthen regional value chains, encourage trade diversification, build stronger relationships with trading partners and provide a baseline to improve trading conditions across the region.

Australia already has FTAs with all RCEP members that have reduced many tariff barriers on goods. However, there is still more to be done to reduce non-tariff measures and barriers to services and investment.

RCEP commits Australia’s trading partners in ASEAN and North Asia to improvements in these areas and promises to play a broader role in supporting growth through trade. This is particularly important in the current trade environment.

Australia should proceed to ratify the agreement and encourage other members to do so such that it can enter into force in 2022.

Read the full submission here.

December 17, 2020

Article Three directors Khalil Manaf Hegarty and Jon Berry were interviewed by Food Navigator, covering the ramifications of the new Biden administration for trade in the Asia Pacific region, particularly for commodities, manufactured food and supply chain investment.

Read the full piece here.

December 11, 2020

Article Three is proud to have collaborated with the Asia Society, RMIT and the APEC Study Centre on A Path to Vietnam: Opportunities and Market Insights for Australian Business.

Australia and Viet Nam are natural economic partners. Viet Nam is a dynamic and rapidly-growing market, and one of Australia’s fastest growing trading partnerships. Viet Nam’s economic growth over three decades, large and mobile talent pool, consistent economic reform, embrace of digital economy and skilled COVID-19 management have put the country in good shape.

The time for Australian businesses to consider Viet Nam as the next phase of their growth strategy is now.

Asia Society Australia and The Australian APEC Study Centre at RMIT University, supported by the Victorian Government, have developed the ‘A Path to Viet Nam’ report to raise awareness of business opportunities and show pathways for Australian companies to succeed in Viet Nam.

Key takeaways

  • Viet Nam is a perfect economic partner for Australia, as both nations have complimentary economic systems and seek diversification of their trading partnerships, amidst weakening global economy and geopolitical tensions
  • Viet Nam has emerged from the COVID-19 crisis better than most countries in the world and has maintained positive economic growth as a result of proactive management of the pandemic
  • Australia and Viet Nam have elevated their government-to-government relationship to the highest level creating a favourable environment for businesses in both nations to engage and generate commercial outcomes
  • Viet Nam has a unique and fast-paced market, and a vastly different political system requiring businesses to have comprehensive, long-term and tailored entry strategies, based on local knowledge, competitive advantage and due diligence
  • Significant opportunities for Australian businesses exist in agriculture, mining and resources, education and ICT services, and Industry 4.0
  • Australian businesses can leverage a thriving bilateral eco-system of relationships to support their efforts in Viet Nam

The report provides Australian business with market insights on the products, services and sectors that offer the most viable opportunities in Viet Nam. It provides recommendations for entry strategies, practical advice and case studies of successful Australian ventures in Viet Nam.

Read the full report here.

Subscribe to our Trade and Prosperity Newsletter