BHP has recently signed one of the world’s biggest trade deals among 15 countries, underlining the importance of bilateral ties. The Regional Comprehensive Economic Partnership (RCEP) was signed by ASEAN nations, including Australia, New Zealand, China, Japan and South Korea. The agreement serves as a commitment to closer trade and open markets.
The BHP RCEP trade deal was signed by both Australia and China, despite growing tensions. Australia’s success resides in its ability to export resources and build outward, according to Mike Henry, BHP Chief Executive. He also believes that the RCEP signing will help to improve the relationships of all involved. This is because the RCEP will help address problems with tensions in international relations.
“The opportunity ahead is to not only implement RCEP effectively but also to build on the momentum created by the agreement,” Henry said.
“This will generate new opportunities for collaboration and to reinvigorate important relationships, including possibly taking the first available opportunity for national leaders to meet face to face to celebrate their accomplishment and forge even closer ties. Australia is positioned to demonstrate to others the importance of investing in relationships and the power of trade. We have demonstrated for decades a firm belief in cooperation and collaboration in our region and beyond.”
The new agreement aims to create a collective and collaborative approach to improve living standards worldwide, in a sustainable way that benefits everyone.