Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

Описание: The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

   • Comprehensive and Progressive Agreement fo...  

This is a trade agreement between 12 Pacific Rim nations, including Malaysia. It was signed in 2018 and entered into force for Malaysia in 2022. The CPTPP aims to promote regional economic integration and includes provisions on trade, investment, and other economic issues.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a significant multilateral free trade agreement that unites 12 economies across the Asia-Pacific and Europe. It aims to reduce trade barriers, enhance economic integration, and establish comprehensive rules governing trade and investment among its members.


🌐 Member Countries

As of December 2024, the CPTPP includes the following 12 member countries: 

   •   Australia
   •   Brunei
   •   Canada
   •   Chile
   •   Japan
   •   Malaysia
   •   Mexico
   •   New Zealand
   •   Peru
   •   Singapore
   •   Vietnam
   •   United Kingdom    

The United Kingdom became the first new member to join the CPTPP since its inception, with the agreement entering into force for the UK on 15 December 2024. 


📜 Origins and Evolution

The CPTPP originated from the Trans-Pacific Partnership (TPP), a trade agreement signed in 2016 by 12 countries, including the United States. However, the TPP never entered into force due to the U.S. withdrawal in 2017. In response, the remaining 11 countries renegotiated and signed the CPTPP on 8 March 2018 in Santiago, Chile. The CPTPP retained most of the TPP’s provisions, suspending certain clauses that were primarily included at the behest of the U.S.  


📈 Economic Significance

   •   Market Size: The CPTPP encompasses economies that collectively represent approximately 14.4% of global GDP, making it one of the world’s largest free trade areas. 

   •   Trade Impact: The agreement eliminates tariffs on about 99% of goods traded among member countries, facilitating increased trade and investment flows.

   •   UK’s Accession: The UK’s entry into the CPTPP is projected to boost its economy by £2 billion annually by 2040, with over 99% of UK goods exports to CPTPP countries becoming tariff-free. 


🧭 Key Provisions

The CPTPP comprises 30 chapters covering various aspects of trade and investment:
   •   Market Access: Elimination of tariffs and reduction of non-tariff barriers.
   •   Rules of Origin: Criteria determining the national source of a product.
   •   Investment: Protections for investors and investments, including fair and equitable treatment.
   •   Intellectual Property: Standards for the protection and enforcement of IP rights.
   •   E-commerce: Rules facilitating digital trade and data flows.
   •   Labour and Environment: Commitments to uphold labour rights and environmental standards.

Notably, some provisions related to investor-state dispute settlement (ISDS) have been modified or suspended among certain members. 


🔄 Expansion and Interest

Several countries have expressed interest in joining the CPTPP:

   •   Indonesia: Formally applied in September 2024 to expand its export markets. 

   •   Philippines, South Korea, Thailand: Have shown interest and are at various stages of considering or preparing for accession.

   •   China: Has indicated a desire to join, though its accession faces challenges due to existing policies and relations with current members. 


🇲🇾 Malaysia’s Participation

Malaysia ratified the CPTPP, with the agreement entering into force for the country on 29 November 2022. As a member, Malaysia benefits from increased market access, investment opportunities, and integration into regional supply chains. 


For more detailed information, you can refer to the official CPTPP texts and resources provided by member countries’ trade ministries.

https://fta.miti.gov.my/index.php/pag...

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