The trade deal, signed in March, is the successor to the Trans-Pacific Partnership (TPP) Agreement, a similar deal that included the US. However, President Donald Trump withdrew the US from the TPP soon after he was elected.

At the signing ceremony of CPTPP in Santiago, Chile, on March 8, 2018.

The CPTPP will cut tariffs on agricultural and industrial products, ease investment regulations and enhance protection of intellectual property.

The 11 member countries of the CPTPP hope that the trade pact will help to counter growing protectionism.

Australia, Canada, Japan, Mexico, New Zealand and Singapore became the first six members to ratify the pact, setting the stage for its entry into force.

The CPTPP is one of the most comprehensive trade deals ever concluded and strips 98 percent of tariffs for the 11 countries with a combined GDP of more than 13.5 trillion USD and close to 500 million consumers.

It is expected to promote economic growth and poverty reduction, create more jobs and improve the living condition for the people of the member nations.

The trade deal was signed by 11 member states, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam in Santiago in March 2018.

Vietnam is working to ratify CPTPP by the end of the year

Vietnam is carrying out procedures necessary to the ratification process of a trans-Pacific trade agreement it had signed in March.

 

Bac Giang firms advised on preparations in anticipation of CPTPP

The potential impacts of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Bac Giang’s enterprises were discussed at a workshop held by the provincial People’s Committee and Germany’s Friedrich Naumann Foundation for Freedom on July 19.

 

Workers’ right must be ensured amid CPTPP implementation: unions

Trade unions should work to ensure workers’ rights and interests amid challenges arising from the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

 

CPTPP - opportunities and challenges to Bac Giang enterprises

(BGO) - The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was signed on March 8, 2018 in Santiago, Chile. As a high standard and comprehensive free trade agreement, CPTPP is assessed by experts to bring both great opportunities and challenges in many fields to Vietnamese businesses, including those in Bac Giang.

 

Roadmap of CPTPP signing

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership was signed in Chile on March 8 (local time). The pact is expected to take effect from early 2019. 

 

Source: NDO/VNA