Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Comprehensive and Progressive Agreement for Trans-Pacific Partnership
As of July 2023:
  Parties
  Accession Protocol Signatory
  Formal applicants
  Announced interest
TypeTrade agreement
Signed8 March 2018
LocationSantiago, Chile
Sealed23 January 2018
Effective30 December 2018
Condition60 days after ratification by 50% of the signatories, or after six signatories have ratified
Parties
DepositaryGovernment of New Zealand[1]
LanguagesEnglish (prevailing in the case of conflict or divergence), French, and Spanish[1]

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), also known as TPP11 or TPP-11,[2][3][4][5] is a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. It evolved from the Trans-Pacific Partnership (TPP), which was never ratified due to the withdrawal of the United States. The eleven members have combined economies representing 13.4 percent of global gross domestic product, at approximately US$13.5 trillion, making the CPTPP one of the world's largest free-trade areas by GDP, along with the United States–Mexico–Canada Agreement, the European single market,[6] and the Regional Comprehensive Economic Partnership. The United Kingdom and the present members formally signed an accession protocol on 16 July 2023 and will join the agreement when it has been ratified by all parties, or after 15 months if the UK and a majority of CPTPP parties have ratified it.[7][8][9]

The TPP had been signed on 4 February 2016 but never entered into force, as the U.S. withdrew from the agreement soon after the election of president Donald Trump.[10] All other TPP signatories agreed in May 2017 to revive the agreement,[11][12] with Shinzo Abe's administration in Japan widely reported as taking the leading role in place of the U.S.[13][14][15][16] In January 2018, the CPTPP was created as a succeeding agreement, retaining two-thirds of its predecessor's provisions; 22 measures favored by the U.S. but contested by other signatories were suspended, while the threshold for enactment was lowered so as not to require U.S. accession.[17][18]

The formal signing ceremony was held on 8 March 2018 in Santiago, Chile.[19][20] The agreement specifies that its provisions enter into effect 60 days after ratification by at least half the signatories (six of the eleven participating countries).[17] On 31 October 2018, Australia was the sixth nation to ratify the agreement; it subsequently came into force for the initial six ratifying countries on 30 December 2018.[21]

The chapter on state-owned enterprises (SOEs) requires signatories to share information about SOEs with each other, with the intent of engaging with the issue of state intervention in markets. It includes the most detailed standards for intellectual property of any trade agreement, as well as protections against intellectual property theft against corporations operating abroad.[18]

The CPTPP commission in 2024 is chaired by Canada.[22]

  1. ^ a b "Comprehensive and Progressive Agreement for Trans-Pacific Partnership" (PDF). Government of New Zealand. Retrieved 10 February 2018.
  2. ^ "大筋合意に至ったTPP11 包括的及び先進的な環太平洋パートナーシップ協定" (PDF) (in Japanese). Mizuho Research Institute. 13 November 2017. Archived from the original (PDF) on 15 November 2017. Retrieved 24 January 2018.
  3. ^ Benson, Simon (25 January 2018). "$13.7 trillion TPP pact to deliver boost in GDP". The Australian. Retrieved 24 January 2018.
  4. ^ Blanco, Daniel (23 January 2018). "Se alcanza acuerdo en texto final del TPP11". El Financiero (in Spanish). Retrieved 24 January 2018.
  5. ^ Cite error: The named reference auratify was invoked but never defined (see the help page).
  6. ^ Torrey, Zachary (3 February 2018). "TPP 2.0: The Deal Without the US". The Diplomat. Retrieved 13 April 2018.
  7. ^ "protocol on the accession of the United Kingdom of Great Britain and Northern Ireland to the comprehensive and progressive agreement for trans-pacific partnership" (PDF). NZ government. Retrieved 3 March 2024.
  8. ^ "United Kingdom accession to the CPTPP". Ministry of Foreign Affairs and Trade. 16 July 2023. Retrieved 25 November 2023.
  9. ^ "'A significant milestone for UK trade': Britain signs deal to join £12trn Indo-Pacific trading block". Sky News. 16 July 2023. Retrieved 16 July 2023.
  10. ^ Riley, Charles (23 January 2017). "Trump's decision to kill TPP leaves door open for China". CNN Money. Retrieved 23 January 2017.
  11. ^ Jegarajah, Sri; Dale, Craig; Shaffer, Leslie (21 May 2017). "TPP nations agree to pursue trade deal without US". CNBC. Retrieved 21 May 2017.
  12. ^ Staff writers (21 May 2017). "Saving the Trans-Pacific Partnership: What are the TPP's prospects after the US withdrawal?". The Straits Times. Retrieved 21 May 2017.
  13. ^ Goodman, Matthew P. (8 July 2022). "Shinzo Abe's Legacy as Champion of the Global Economic Order". Center for Strategic and International Studies. Archived from the original on 8 July 2022.
  14. ^ Funabashi, Yoichi (22 February 2018). "In America's absence, Japan takes the lead on Asian free trade". Washington Post.
  15. ^ Kim, Eunseo (4 May 2018). "The CPTPP and Its Implications for Japan". The Diplomat.
  16. ^ "日本主導のTPP大筋合意…韓国自動車産業にマイナスの影響". 中央日報 - 韓国の最新ニュースを日本語でサービスします.
  17. ^ a b Dwyer, Colin (8 March 2018). "The TPP Is Dead. Long Live The Trans-Pacific Trade Deal". The Two-Way. NPR. Retrieved 29 November 2018.
  18. ^ a b Goodman, Matthew P. (8 March 2018). "From TPP to CPTPP". Center for Strategic and International Studies. Retrieved 13 April 2018.
  19. ^ AP Staff (8 March 2018). "11 nations to sign Pacific trade pact as US plans tariffs". New York Daily News. Associated Press. Retrieved 9 March 2018.
  20. ^ Swick, Brenda C.; Augruso, Dylan E. (19 January 2018). "Canada Reaches Comprehensive and Progressive Trans-Pacific Partnership Agreement". The National Law Review. Dickinson Wright PLLC. Retrieved 9 March 2018.
  21. ^ "Pacific trade pact to start at end-2018 after six members ratify". Reuters. 31 October 2018.
  22. ^ "Canada's chairing of the CPTPP Commission in 2024". Government of Canada. 21 February 2024. Archived from the original on 11 April 2024. Retrieved 11 April 2024.

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