Marise Payne (NSW, Liberal Party, Minister for Foreign Affairs) Share this | Hansard source

I thank Senator Paterson for his second supplementary question. The government is focused on supporting a regional economic recovery that is underpinned by free and open markets governed by transparent rules. We know that jobs and investment in Australia's economy are linked with those of our region. Australia's Pacific Step-up has expanded and deepened our partnerships in the region, maintaining a record $1.44 billion of development assistance to the Pacific in 2021-22. On 2 November, Australia ratified the RCEP, the world's largest free trade agreement, which will bring together nine of Australia's top 15 trading partners into a single economic framework. Following the signing of our Australia-India CSP in 2020, we've now formally resumed negotiations on a comprehensive economic cooperation agreement with India, deepening bilateral trade with one of our most important Indo-Pacific partners. Under this government, Australia is seen as a reliable, consistent and trusted partner, and our commitment to free and open trade is absolute.