It's no secret that the international trading regime is under enormous pressure, a trend that has intensified as a result of the COVID-19 pandemic. New Zealand businesses, and exports in particular, have been facing challenging times, but we have also seen how resilient they have been. Our Government recognises how important it is to support these businesses, and RCEP is part of that. It is an agreement which reduces trade barriers, facilitates trade, and provides new market access. RCEP is important in supporting our trade-led recovery from COVID-19. RCEP is also critical to our engagement internationally. Joining RCEP ensures that we will be at the table where decisions affecting our interests will be taken and it reinforces our place in the region and sends a very important signal of New Zealand's continued openness to trade and the importance of rules-based trade. Most of the obligations under RCEP are met through New Zealand's existing legal frameworks and policy regimes. The RCEP bill makes a small number of legislative amendments that are needed to ratify RCEP. 