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Last Update: 14-08-2018 [cached @21:07]
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TPP & CPTPP

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TPP & CPTPP

Trans-Pacific Partnership Agreement (TPP)

TPPA is a trade agreement between 12 Pacific Rim nations: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Viet Nam.

Signed by the 12 countries on 4 February 2016 in Auckland, New Zealand the Agreement has not yet entered into force. On 23 January 2017, United States President Donald Trump signed a Presidential Memorandum to withdraw the US from TPP. The Agreement as it stands cannot enter into force without the US, as it accounts for 60% of the combined GDP of the 12 TPP members.

In light of the US withdrawal, the TPP Ministers from the remaining 11 member countries convened a meeting on 21 May 2017 on the sideline of the APEC MRT Meeting in Hanoi, Vietnam and affirmed the economic and strategic importance of TPP, particularly as a vehicle for regional economic integration.

Negotiators from the 11 countries met over several rounds to find ways to implement the TPPA.

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Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

On 9-10 November 2017 in Da Nang, Viet Nam, Ministers of the 11 TPP countries reached an agreement on the way forward to implement the Trans-Pacific Partnership Agreement (TPP). The 11 members agreed on the text of the Agreement, renamed as the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP).

The CPTPP will incorporate the original TPP Agreement, with suspension of a limited number of provisions, while maintaining the high standard and comprehensive nature of the Agreement.

The CPTPP negotiations were concluded on 23 January 2018 in Tokyo, Japan and targeted to be signed on 8 March 2018 in Santiago, Chile. The legally verified text of the CPTPP is as follows:

Text of the Agreement [ENG]

The eleven countries in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Viet Nam.

 

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