Canadian Prime Minister Justin Trudeau (Photo: VNA)Ottawa (VNA) – The Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP) was passed byCanadian Senate on October 25, paving the way for Canada to be among the firstsix countries to ratify the pact.
Canadian Minister of International TradeDiversification Jim Carr underlined that the CPTPP will help the country’sfirms access to emerging markets, which in turn will offer opportunities forits business community and middle class, as well as generate more high paidjobs in the country.
Previously, Mexico, Japan, Singapore, Australiaand New Zealand had ratified CPTPP.
Formerly known as the Trans-Pacific Partnership,the CPTPP was signed by 11 member states in March after the US withdrew fromthe original agreement early last year.
It will enter into force 60 days after at leastsix signatories ratify the agreement.
The other member countries are Brunei, Chile,Malaysia, Peru and Vietnam.
The CPTPP is said to be one of the mostcomprehensive trade deals ever concluded and strips 98 percent of tariffs for the11 countries with a combined GDP of more than 13.8 trillion USD and close to500 million consumers.-VNA
Canadian Minister of International TradeDiversification Jim Carr underlined that the CPTPP will help the country’sfirms access to emerging markets, which in turn will offer opportunities forits business community and middle class, as well as generate more high paidjobs in the country.
Previously, Mexico, Japan, Singapore, Australiaand New Zealand had ratified CPTPP.
Formerly known as the Trans-Pacific Partnership,the CPTPP was signed by 11 member states in March after the US withdrew fromthe original agreement early last year.
It will enter into force 60 days after at leastsix signatories ratify the agreement.
The other member countries are Brunei, Chile,Malaysia, Peru and Vietnam.
The CPTPP is said to be one of the mostcomprehensive trade deals ever concluded and strips 98 percent of tariffs for the11 countries with a combined GDP of more than 13.8 trillion USD and close to500 million consumers.-VNA
VNA
