Comprehensive and Progressive Agreement for Trans-Pacific Partnership

For the agreement it superseded, see Trans-Pacific Partnership.

Comprehensive and Progressive Agreement for Trans-Pacific Partnership
As of July 2023:
  Parties
  Accession Protocol Signatory
  Formal applicants
  Expressed 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
Languages

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), initially abbreviated as TPP11 or TPP-11,[1][2][3] 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,[4] 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.[5][6]

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.[7] All other TPP signatories agreed in May 2017 to revive the agreement,[8][9] with Shinzo Abe's administration in Japan widely reported as taking the leading role in place of the U.S.[10][11] 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.[12][13]

The formal signing ceremony was held on 8 March 2018 in Santiago, Chile.[14][15] 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).[12] 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.[16]

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 infringement against corporations operating abroad.[13]

The e-commerce chapter of the CPTPP mandates that signatories adopt or at the very least maintain laws for consumer protection with the aim to fight fraud and deceptive commercial activities. Signatories are supposed to work together, to encourage cross border e-commerce in the Asia-Pacific.[17]

  1. ^ "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). Mizuho Research Institute (in Japanese). 13 November 2017. Archived from the original (PDF) on 15 November 2017. Retrieved 24 January 2018.
  2. ^ Jennings, Ralph (13 March 2018). "How An Australia-Canada-Japan Led TPP-11 Trade Deal Compares To China's Alternative". Forbes. Archived from the original on 2 June 2024. Retrieved 13 March 2018.
  3. ^ Blanco, Daniel (5 June 2024). "Se alcanza acuerdo en texto final del TPP11". El Financiero (in Spanish). Archived from the original on 24 August 2018. Retrieved 24 January 2018.
  4. ^ Torrey, Zachary (3 February 2018). "TPP 2.0: The Deal Without the US". The Diplomat. Archived from the original on 8 March 2018. Retrieved 13 April 2018.
  5. ^ "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). Ministry of Foreign Affairs and Trade New Zealand. Archived (PDF) from the original on 27 February 2024. Retrieved 3 March 2024.
  6. ^ "'A significant milestone for UK trade': Britain signs deal to join £12trn Indo-Pacific trading block". Sky News. 16 July 2023. Archived from the original on 16 July 2023. Retrieved 16 July 2023.
  7. ^ Riley, Charles (23 January 2017). "Trump's decision to kill TPP leaves door open for China". CNN Business. Archived from the original on 25 January 2017. Retrieved 23 January 2017.
  8. ^ Jegarajah, Sri; Dale, Craig; Shaffer, Leslie (21 May 2017). "TPP nations agree to pursue trade deal without US". CNBC. Archived from the original on 21 May 2017. Retrieved 21 May 2017.
  9. ^ "Saving the Trans-Pacific Partnership: What are the TPP's prospects after the US withdrawal?". The Straits Times. 21 May 2017. Archived from the original on 21 May 2017. Retrieved 21 May 2017.
  10. ^ 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.
  11. ^ Funabashi, Yoichi (22 February 2018). "In America's absence, Japan takes the lead on Asian free trade". The Washington Post. Archived from the original on 22 February 2018.
  12. ^ a b Dwyer, Colin (8 March 2018). "The TPP Is Dead. Long Live The Trans-Pacific Trade Deal". NPR. Archived from the original on 8 March 2018. Retrieved 29 November 2018.
  13. ^ a b Goodman, Matthew P. (8 March 2018). "From TPP to CPTPP". Center for Strategic and International Studies. Archived from the original on 9 March 2018. Retrieved 13 April 2018.
  14. ^ AP Staff (8 March 2018). "11 nations to sign Pacific trade pact as US plans tariffs". New York Daily News. Associated Press. Archived from the original on 8 March 2018. Retrieved 9 March 2018.
  15. ^ Swick, Brenda C.; Augruso, Dylan E. (19 January 2018). "Canada Reaches Comprehensive and Progressive Trans-Pacific Partnership Agreement". The National Law Review. Archived from the original on 29 January 2018. Retrieved 9 March 2018.
  16. ^ Greenfield, Charlotte (31 October 2018). "Countering global protectionism, Pacific trade pact nears takeoff". Reuters. Archived from the original on 31 October 2018. Retrieved 5 June 2024.
  17. ^ Sanjay Kathuria; Arti Grover; Viviana Maria Eugenia Perego; Aaditya Mattoo; Pritam Banerje (2019). "Unleashing E-Commerce for South Asian Integration". World Bank Publications. p. 57. ISBN 9781464815195.