Hanoi (VNA) - The Philippines is among the economies that have secured support from the members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as it seeks to join the multinational trade bloc, an Australian official said on March 18.
Speaking at a press conference in Pasay city, the Philippines, visiting Australian Assistant Minister for Foreign Affairs and Trade, and Immigration Matt Thistlethwaite said CPTPP is a high quality trade agreement that sets high standards and the Philippines is on a path to achieving that.
The CPTPP now groups 12 nations, namely Australia, Canada, Japan, Mexico, New Zealand, Singapore, Vietnam, Peru, Malaysia, Chile, Brunei and the UK. The bloc represents 590 million people and accounts for nearly 15% of the global economy.
On the bilateral sphere, Thistlethwaite said Canberra and Manila share mutual interest in supporting free and open fair trade within the region, and that Australia is keen to expand its economic ties with the country.
Two-way trade has been growing in recent times and approaching 12 billion USD, and it's traditionally around resources, education, and other areas./.
