Australian farmers and businesses will benefit from better export opportunities with the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement between Australia and 14 other Indo-Pacific countries this week.
Our trade policy is all about supporting Australian jobs, boosting export opportunities and ensuring an open region with even stronger supply chains.
With one in five Australian jobs reliant on trade, the RCEP Agreement will be crucial as Australia and the region begin to rebuild from the COVID-19 pandemic.
This agreement covers the fastest growing region in the world and will open up new doors for Australian farmers, businesses and investors.
Nearly 75 per cent of lost jobs recovered
New employment data shows our economy is continuing to recover from the global pandemic, with the Australian economy adding 178,800 jobs in October, exceeding all market expectations.
This represents a recovery of nearly 75 per cent of jobs lost between March and May 2020.
Full-time employment increased by 97,000, the largest monthly increase on record, while part-time employment rose by 81,800.
All states and territories recorded an increase in employment in October, except for Tasmania, where employment remained steady.
The government understands the economic fallout from COVID-19 will continue for some time, which is why we have committed an unprecedented $507 billion in economic support, to help rebuild the economy and put Australia back on the road to recovery.
New vaccine manufacturing facility
A new high-tech vaccine manufacturing facility will be developed in Melbourne to secure Australia's long-term supply of critical health products including influenza vaccines and life-saving antivenoms.
The $1 billion agreement between the Morrison government and Seqirus also provides the ability to rapidly manufacture vaccines when responding to health pandemics in the future.
The new complex would be the largest influenza vaccine manufacturing facility in the southern hemisphere, and guard against future health threats.
More support for child, youth and perinatal mental health
Intervention early in life and at an early stage of illness can reduce the duration and impact of mental illness.
To combat mental health risks, the Morrison Government has announced an investment of $133.5 million to support child, youth and perinatal mental health programs.
This includes extending: the Early Psychosis Youth Services program; the school-based mental health program, Be You; and Emerging Minds to continue the National Workforce Centre for Child Mental Health.
Expanding and improving mobile coverage
The Morrison government is continuing to expand mobile coverage across regional and remote Australia, with the next round of the Mobile Black Spot Program now open for applications.
This round of the programwill focus on improving coverage along major transport corridors and in disaster-prone regions.
More than 1200 new mobile base stations have already been funded under the Mobile Black Spot Program.