Australia has signed a landmark Asia-Pacific trade agreement with ten countries.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will reduce tariffs in countries that together amount to more than 13 per cent of the global economy.
The member countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Trade Minister Steve Ciobo says the pact will help Australia prosper.
"This TPP-11 agreement is an important agreement. It's opening up $13.7 trillion of economic activity to Australian businesses to be able to export their goods [and] their services, to drive investment into these markets," he told Sky News.
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