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Pacific Nations Clinch Comprehensive Trade Accord

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The 11 remaining Trans-Pacific Partnership (TPP) countries are set to sign their final agreement this March in Chile, after chief negotiators from the participating economies resolved the last sticking points during meetings in Tokyo this week. The negotiating meetings, held on Monday and Tuesday in the Japanese capital, saw countries agree on the final list of suspended provisions and side letters, given that four items had been left pending when they last met in late 2017. They also agreed on the date for the signing ceremony for the accord, which is now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). In an address to the World Economic Forum Annual Meeting in Davos, Switzerland, on Tuesday 23 January, Canadian Prime Minister Justin Trudeau confirmed the news and praised the final accord as “the right deal” that will “strengthen the middle class,” both now and in the long term. He also called Tuesday a “great day for progressive trade,” in light of the CPTPP news. Trade officials from across the other CPTPP signatories similarly welcomed the accord as a turning point in Asia-Pacific economic relations, while noting the complexities of bringing the talks across the finish line over the...

Tags: Trans-Pacific Partnership (TPP), Regional Trade Agreements (RTAs), Trans-Pacific Partnership (TPP)

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