The Global Affairs Canada organization includes individuals, businesses (including SMBs), industry associations, experts, consultants, academics, civil society organization, labour unions, governments, indigenous groups, students and youth and other interested Canadian stakeholders.
In late July, Global Affairs Canada started discussions whether South Korea, Taiwan, Thailand and the United Kingdom should join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”).
An announcement was published in the Canada Gazette, Part 1. Global Affairs Canada has has begun soliciting comments for whether these countries (and China) should join the CPTPP. The deadline for submissions is midnight, August 25, 2019.
The announcement asks for the following information:
1. Contributor’s name and address and, if applicable, the name of the contributor’s organization, institution or business;
2. The specific issues being addressed; and
3. Where possible, precise information on the rationale for the positions taken, including any significant impact it may have on Canada’s domestic or international interests.
Additionally, they would like feedback on specific markets that Canadians and businesses would support entry to the CPTPP.
The full text of the announcement and additional topics Global Affairs Canada would like feedback on can be found here:
This past Thursday, Presidential hopeful and former Vice-President Joe Biden announced he would renegotiate the Trans-Pacific Partnership (TPP) and would not rejoin the TPP as it was initially put forward.
The irony in Vice-President Biden’s statement is his boss was a strong advocate of TPP and tried to push the agreement through before the end of his presidency.
Joe’s main reason to negotiate the TPP is to change provisions that labor and environmental groups in the US worried would result in US jobs moving to lower-income countries such as Vietnam along with other developing countries in Southeast Asia.
According to the Japan Times, in an effort to join the Trans-Pacific Partnership multilateral free trade pact (formerly the Trans-Pacific Partnership), Taiwan will lower its tariffs on Japanese sake from 40% to 20% along with reductions in tariffs for Japanese farm and fishery products. The reduction in tariffs is to demonstrate Taiwan’s commitment for free trade.
While open to free trade, Taiwan still does not allow imports from five Japanese prefectures impacted by the Fukushima nuclear power station crisis that occurred in 2011.
Will post any updates if and when Taiwan is admitted to the TPP.
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.
When the terms of the Trans-Pacific Partnership (TPP) was agreed to in March 2018, the largest free-trade agreement in Asia would become effective upon ratification by six out of the 11 participating countries.
On Tuesday October 30th, Australia became the sixth country to ratify the pact meaning tariff cuts will take place as early as December, almost 2 years after President Trump withdrew the US from talks. Brunei, Chile, Malaysia, Peru and Vietnam have yet to ratify the deal.
It is estimated the new TPP trade deal will remove tariffs on an estimated 95% of goods traded among the 11 member countries and a combined GDP of $10 trillion.
If you have any questions how the new TPP deal may impact your business, feel free to contact experienced trade attorney David Hsu at any time, 832.896.6288 or by email at firstname.lastname@example.org.
According to Radio New Zealand, the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) will be in force around December of 2018 after New Zealand plans to be the first of six countries to ratify the agreeement.
As of today, Japan, Mexico and Singapore have ratified the agreement with Australia, Chile and now New Zealand soon to ratify.
In addition to the 11 countries, Colombia, Thailand and South Korea along with Britain also expressed interest in joining the CPTPP.
According to Retuers, Japan and Peru’s foreign ministers are working on an early implementation of the Trans-Pacific Partnership to promote free trade between the two countries. Currently there are 11 members to the TPP. While an agreement has been reached between the parties, the implementation is not yet effective until enough countries ratify the agreement.
Japan has already ratified the pact, but 5 more countries need to ratify before the TPP will take effect.
One main reason for the Japan, Peru efforts may be due the year 2019 marking the 120th anniversary of Japanese immigration to Peru.
If you have any TPP questions or other trade, import, or customs questions, contact David Hsu at 832-896-6288 or by email at email@example.com.
Channel News Asia reported last Thursday that Singapore ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Originally known as the Trans-Pacific Partnership, the name was changed after the Trump Administration withdrew US support for the TPP after some members would not agree to US terms regarding pharmaceuticals and intellectual property protections.
Since the new CPTPP was created, only 3 nations have ratified the agreement (with Mexico and Japan as the only two countries to ratify the agreement. However, last Thursday, Singapore became the third after signing the CPTPP.
Terms of the CPTPP agreement concluded in January 23rd of this year and signed on March 8th. There are still 8 more countries that need to sign in order to ratify the treaty. Once all countries sign, the CPTPP will be in force 60 days later.