CPTPP operation to be discussed in Tokyo
Updated : Tuesday, November 20, 2018 2:19 PM (GMT+0700)

Chief negotiators fromthe 11 members of the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP) will gather in Tokyo, Japan, on November 20-21 to discusspolicies after the deal takes effect in late this year.

 
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership was signed
in Santiago, Chile, on March 8, 2018 - Photo: VNA

They will discuss how to operate the pact and the basicpolicy on accepting future members after it enters into force, Kyodo Newscitied Toshimitsu Motegi, Japan's minister in charge of the CPTPP, assaying. 

He expected the regional free trade zone to expand.

The Comprehensive and Progressive Agreement for Trans-PacificPartnership was signed in Santiago, Chile, on March 8, 2018 by Australia,Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singaporeand Vietnam.

Of the 11, seven countries have already ratified the pact,with Vietnam finishing its procedures last week. Earlier, New Zealand, Canada,Japan, Mexico, Singapore and Australia ratified the deal.

The deal, taking effect at the end of this year, is expectedto bolster economic growth, create more jobs, alleviate poverty, and improvethe living quality of the member states. 

It will create one of the world’s largest free trade blockswith a market of 499 million people and a GDP of 10.1 trillion USD, accountingfor 13.5 percent of the globe’s GDP.

Source:  VNA

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