The 11 countries that are part of the “Comprehensive and Progressive Trans-Pacific Partnership (CPTPP)” (formerly known as the Trans-Pacific Partnership), have agreed to expand the trade agreement and are seeking involvement of other Pacific nations.
Last week, the first meeting of the CPTPP was held in Tokyo where Ministers and Officials from Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam were in attendance.
The CPTPP issued a statement welcoming any new countries that can “meet CPTPP’s high standards and objectives”.
The CPTPP was enacted in December 2018 and proceeded after the Trump Administration removed the US from the deal. The next CPTPP meeting will be held in New Zealand and starting in 2020, each member nation will take turns hosting a meeting.
Contact our office if you have any questions how the trans-pacific partnership will impact your business. David Hsu, 832-896-6288 or by email at email@example.com.