CPTPP signing slated for March 8 in Chile
Updated : Wednesday, March 07, 2018 9:58 AM (GMT+0700)

TheComprehensive and Progressive Trans-Pacific Partnership (CPTPP) scheduled to beinked by ministers of the 11 member countries in Chile on March 8.

Vietnamese Minister of Industry and Trade Tran Tuan Anh (L) and Japanese Minister
of Economic Revitalisation Toshimitsu Motegi chair a press conference on the TPP on the
sidelines of the APEC Economic Leaders' Week in Da Nang city in November 2017 - Photo: VNA

The trade pact is set totake effect in the beginning of 2019 after it is ratified by at least sixmember countries.

The 11 CPTPP economies makeup about 13 percent of the global GDP.

After the US withdrew fromthe Trans-Pacific Partnership (TPP), the predecessor of the CPTPP, in 2017, theremaining 11 countries (Australia, Brunei, Canada, Chile, Japan, Malaysia,Mexico, New Zealand, Peru, Singapore, and Vietnam) agreed to maintain the dealand rename it CPTPP.

They agreed on the revisedcontent of the agreement on January 23, 2018.

On February 21, the fulltext of the CPTPP was announced, which is considered a sign showing that the 11countries are ready to sign the agreement.

According to Reuters, morethan 20 provisions of the CPTPP were suspended or changed compared to the TPP.

Earlier, US President DonaldTrump said his country would consider re-entering the CPTPP if the US could geta better deal.


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