World

CPTPP countries to start accession talks for new members in 2019

Chief negotiators from the 11 signatories of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreed on July 19 to start accession talks with potential newcomers in 2019, after the trade pact takes effect.
CPTPP countries to start accession talks for new members in 2019 ảnh 1Chief negotiators from the 11 signatories of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) (Source: Kyodo)

Hanoi (VNA) -Chief negotiators from the 11 signatories of the Comprehensiveand Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreedon July 19 to start accession talks with potential newcomers in 2019, after thetrade pact takes effect.

The consensus was reachedat a meeting in the hot-spring resort of Hakone, Japan’s Kanagawa prefecture, onJuly 18-19, which took place amidst growing concerns about the trade war and riseof protectionism.

The negotiators checked eachmember’s progress towards completing domestic procedures to ratify the trade dealand discussed the future expansion of the CPTPP membership.

The pact will take effect60 days after at least six countries have completed their domestic procedures.Japan, Mexico, and Singapore have already ended their ratification processes,with three more – namely Australia, New Zealand, and Vietnam – likely to followsuit by the end of the year.

Thailand, Indonesia, Colombia,the Republic of Korea, and Taiwan (China) have all expressed interest in joiningthe CPTPP.

In addition, Britain hasalso shown interest, with Trade Minister Liam Fox saying on July 18 that thecountry will broach the issue with the public.

On July 19, Japan’s Chief Cabinet Secretary Yoshihide Suga hailed the UK’sinterest, adding that Japan is ready to share any pertinent information.

However, new membersinterested in joining will likely be required to accept what have already beennegotiated by the existing 11 members, for example intellectual property.

Theoriginal Trans-Pacific Partnership (TPP) was signed by 12 countries in February2016 but US President Donald Trump pulled his country from the deal upon hisinauguration in January 2017.

The remaining 11 countries – namely Australia,Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore,and Vietnam – signed the pact and renamed it the CPTPP in March 2018 in Chile.

The pact is expected to boost economic growth,create more jobs, reduce poverty, and improve the quality of life for people inmember countries.

It will create one of the world’s largest freetrade blocs with a combined market of 499 million people and a GDP of around10.1 trillion USD, accounting for 13.5 percent of the global GDP. -VNA
VNA
#Comprehensive and Progressive Agreement for Trans-Pacific Partnership #Japan #CPTPP membership #economic growth #Vietnam #VietnamPlus #Viet Nam News
Follow VietnamPlus

Related News

Pacific countries seek to expand CPTPP

Pacific countries seek to expand CPTPP

Chief negotiators of the 11 countries involved in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on July 18 met in Kanagawa prefecture of Japan to accelerate the completion of domestic procedures so that the deal will come into effect soon.
Singapore becomes third country to ratify CPTPP

Singapore becomes third country to ratify CPTPP

Singapore has become the third country to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to a statement by its Ministry of Industry and Trade on July 19.
Vietnam works to ratify CPTPP

Vietnam works to ratify CPTPP

The Ministry of Industry and Trade is making every endeavour to complete all required papers and to submit the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to the National Assembly for ratification in the legislature’s session later this year.

See more

The article titled “Cambodia and Vietnam are developing together in the new era” published on Khmer Times on April 23 (Screenshot photo)

Vietnam, Cambodia advance together in new era: Cambodian scholar

A Cambodian scholar has underlined the historical significance of Vietnam’s victory to liberate the South and reunify the nation on April 30, 1975, saying that it was a profoundly significant political event, and an unique and miraculous heroic epic for the Vietnamese, which encouraged and promoted the struggle for independence and freedom.

The increasing role of AI in identity verification through facial recognition has further driven demand for data centre services in the financial sector. (Photo: Bangkokpost)

Thailand's data centre services market to expand 8% in 2025

Data centre services are expected to account for 43.3% of the overall Thai data centre market this year, with the remainder coming from companies' investment in their own data centres, according to Kasikorn Research Centre (K-Research).

Singaporean Prime Minister, Lawrence Wong (R) (Photo: scmp.com)

Singapore launches election campaign

According to regulations, the campaign period will last until just before polling day on May 3. Political parties with six or more candidates are allowed to participate in two Political Party Broadcasts (PPBs) for the general election.

The Thai PM explains that the funds were allocated based on village size (Photo: The Nation)

Thailand releases 330 million USD to boost grassroots development

The village fund programme in Thailand has operated for over 20 years, circulating more than 300 billion THB (8.9 billion USD) to date. She credited the initiative to former PM Thaksin Shinawatra, which was continued and expanded by former PM Yingluck Shinawatra, in 2012 with additional budget allocations.

Thailand is working to promote high-value cruise tourism. (Source: BangkokPost)

Thailand promotes cruise tourism

Last year, Thailand recorded 162 cruise ship calls, carrying 379,036 passengers and 163,331 crew members, generating 1.89 billion THB (56.5 million USD) in revenue, a 6.9% increase from 2023. Leading source markets include Singapore, the UK, Malaysia, the US, and Germany.

ASEAN, US hold 37th annual dialogue in Cambodia (Photo: Getty)

ASEAN, US hold 37th annual dialogue in Cambodia

The co-chairs highlighted the strong and durable partnership with ASEAN over the past 48 years. They discussed pressing geopolitical issues, including the importance of facilitating a free and open Indo-Pacific. O’Neill further expressed the need to uphold freedom of navigation and overflight in the East Sea.

Thai Prime Minister Paetongtarn Shinawatra rejects rumours about a potential cabinet reshuffle. (Photo: The Nation)

Thai PM dismisses cabinet reshuffle rumours

Speaking to reporters at Government House after the weekly Cabinet meeting, Paetongtarn insisted she had no plans to adjust her ministerial line-up or oust the Bhumjaithai Party - the second-largest partner - from her coalition government, The Nation of Thailand reported.

Thailand will scrap certification for steel produced using outdated IF technology. (Photo: The Nation)

Thailand plans to eradicate polluting steel production technology

The Thai Ministry of Industry will review the certification standards for steel manufactured via the IF process, a method known for its limitations in removing impurities from molten steel and higher levels of dust and toxic gas emissions compared to more modern methods.