CPTPP trade deal officially takes effect

The 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) officially came into force on December 30, creating a free trade area covering more than a tenth of the global economy.
CPTPP trade deal officially takes effect ảnh 1At the signing ceremony of CPTPP in Santiago, Chile, on March 8, 2018 (Source: Xinhua/VNA)

Hanoi (VNA) - The 11-member Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) officially came into force on December30, creating a free trade area coveringmore than a tenth of the global economy.

The trade deal, signed in March, is thesuccessor to the Trans-Pacific Partnership (TPP) Agreement, a similar deal thatincluded the US. However, President Donald Trump withdrew the US from the TPPsoon after he was elected.

The CPTPP will cut tariffs on agriculturaland industrial products, ease investment regulations and enhance protection ofintellectual property.

The 11 member countries of CPTPP hope thatthe trade pact will help counter to growing protectionism.

Australia, Canada, Japan, Mexico, NewZealand and Singapore became the first six members to ratify the pact, settingthe stage for its entry into force.

The CPTPP is one of themost comprehensive trade deals ever concluded and strips 98 percent of tariffsfor the 11 countries with a combined GDP of more than 13.5 trillion USD andclose to 500 million consumers.

It is expected to promote economicgrowth and poverty reduction, create more jobs and improve the living conditionfor the people at member nations.

The trade deal was signed by 11 member states,namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, NewZealand, Peru, Singapore, and Vietnam in Santiago in March 2018.–VNA 
VNA

See more

Malaysian Digital Minister Gobind Singh Deo speaks during the Public Sector Artificial Intelligence Adaptation Guidelines’ launching ceremony in Kuala Lumpur, on February 27. (Photo: selangorjournal.my)

Malaysia launches AI adaptation guidelines for public sector

The 158-page guidelines provide an overview of AI, ethical principles, roles and responsibilities of stakeholders, risk management, adaptation methods, and self-assessment templates to help identify the scope and impact of AI within the public sector.

Illustrative image (Photo: Internet)

Thai rice faces mounting competition, high costs

President of the Thai Rice Exporters AssociatioCharoen Laothammatas predicted that the figure will reach 7.5 million tonnes this year, a 24.2% drop from last year’s 9.94 million tonmes.

Singapore guardsmen complete an obstacle course during exercise Valiant Mark with U.S. Marine Rotational Force-Southeast Asia in Singapore in December 2024. (Photo: SGT. SHAINA JUPITER/U.S. MARINE CORPS)

Singapore army invests in uncrewed systems to address manpower shortages

The declining number of service members as the “greatest internal challenge” facing the Singapore Armed Forces (SAF). To tackle this, Singapore is increasing automation and assigning conscripts and national reservists, known as “NSmen,” to roles aligned with their civilian expertise to boost efficiency and effectiveness.

Indonesia to use its benchmark coal price for transactions from March 1 (Photo: Theinvestsor)

Indonesia to adjust coal price policy

Vietnam, a key importer of Indonesian coal, imported 2.49 billion USD worth in 2024. Coal remains Vietnam’s largest import from Indonesia, contributing significantly to the 4.34 billion USD in total imports from the country

Cambodian Prime Minister Samdech Thipadei Hun Manet (Photo: VNA)

Vietnam attends Islam-Buddhism Summit in Cambodia

Vietnamese Ambassador to Cambodia Nguyen Minh Vu participated in the Islam-Buddhism Summit in Phnom Penh on February 27. The event focused on sharing experience in fostering peaceful religious coexistence, cooperation, and harmony in the region and the world.

President Prabowo Subianto delivering a speech during the inauguration of Indonesia's first bullion bank in Jakarta on February 26, 2025). (Photo: ANTARA)

Indonesia launches nation’s first bullion banks

Indonesian President Prabowo Subianto launched two “bullion banks” on February 26 that will provide gold deposit services to help keep stocks of gold onshore as the country looks to develop its commodity sector beyond mining.

A corner of Singapore. (Source: AFP/VNA)

Singapore PM defends 2025 budget as responsible, well-managed

The Singaporean Government is able to provide a suite of support measures in this Budget as it has managed its resources properly, and because it is doing everything it can to help Singaporeans cope with cost pressures and to improve their lives, said Prime Minister Lawrence Wong.

Singapore increases investment in space industry

Singapore increases investment in space industry

Jonathan Hung, executive director of OSTIn said while Singapore’s space industry is still at an early stage of development, global trends mean new opportunities that countries such as Singapore are well-positioned to tap.