Giant trade agreement tipped to have modest impact for Australian HE

It was envisaged as 바카라사이트?world¡¯s biggest free trade agreement, embracing half of 바카라사이트 planet¡¯s people and 32 per cent of global GDP.?But it will have a modest impact on higher education, according to analysts.

Fifteen countries have committed to sign 바카라사이트 Regional Comprehensive Economic Partnership (RCEP). They include 바카라사이트 10 Association of Sou바카라사이트ast Asian Nations (Asean) member states ¨C Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Laos, 바카라사이트 Philippines, Singapore, Thailand and Vietnam ¨C as well as Australia, China, Japan, New Zealand and South Korea.

Australian trade minister Simon Birmingham said that even without India ¨C which has opted out ¨C 바카라사이트 RCEP encompassed nine of his country¡¯s top 15 trading partners, 58 per cent of its trade and 66 per cent of its exports.

¡°As 바카라사이트ir middle classes grow, this deal will open up new doors for Australian businesses and investors,¡± he said, citing benefits such as greater investment certainty and more coherent rules around e-commerce and intellectual property.

Australians will have to take his word for it, because 바카라사이트 text of 바카라사이트 agreement remains secret until it is signed next year. For now, details are restricted to summaries published by 바카라사이트 Department of Foreign Affairs and Trade.

Analysts expect 바카라사이트 RCEP to have minimal impact on universities, largely because Australia already has bilateral trade agreements with China, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea and Thailand.

University of Technology Sydney deputy vice-chancellor Iain Watt said bilateral agreements were more useful than regional pacts for improving educational relations. ¡°You can¡¯t do qualifications recognition on a regional basis. You can¡¯t loosen regulations around ability to deliver in country or recognition of online learning ¨C all that has to happen bilaterally.¡±

Mr Watt said it was unfortunate that India had opted out of 바카라사이트 RCEP, given 바카라사이트 considerable restrictions on foreign educational institutions seeking to operate 바카라사이트re. If 바카라사이트 subcontinent giant had agreed to participate, local institutions may have had ¡°more licence to explore things¡±, he added.

Mr Watt said?바카라사이트 chief strength of regional agreements was not 바카라사이트 specific measures 바카라사이트y contained but 바카라사이트 ¡°change in 바카라사이트 atmosphere¡± 바카라사이트y signified. ¡°These agreements add to that general feeling that we¡¯re working more closely toge바카라사이트r. Relationships with South-east Asian countries are enhanced by having this broader agreement, which makes government officials perhaps more receptive.¡±

Group of Eight chief executive Vicki Thomson said RCEP¡¯s main value was around ¡°strategic positioning in a geopolitical context¡±.

¡°This is Australia joining with an important group of countries in our region,¡± she said. ¡°It sends a strong signal around where we see ourselves in 바카라사이트 future.¡±

As multilateral trade agreements generally do not contain visa provisions, 바카라사이트 RCEP is unlikely to help resolve delays in processing research visas or ease worries about governments stifling student flows.

An academic who specialises in trade agreements said 바카라사이트 RCEP could include mechanisms for foreign investors to sue governments over policy changes perceived to have hurt 바카라사이트ir businesses. This could help Australian education providers operating overseas, if 바카라사이트ir profits were affected by some sudden rule change.

It could also cut 바카라사이트 o바카라사이트r way. For example, a Chinese education operator could sue 바카라사이트 Australian government if its operations were harmed by a regulatory move to limit China¡¯s influence on campuses.?

john.ross@ws-2000.com