Buenos Aires (VNA) – Colombia has officially requested for permissionto join the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP), said Mexican Economy Minister Ildefonso Guajardo.
Guajardo unveiled the information at the 19th Pacific AllianceCouncil of Ministers Meeting on June 15, stressing that the participation ofColombia, a member of the Pacific Alliance, will help connect the two tradeblocs.
After the US withdrew from the Trans-Pacific Partnership (TPP), the predecessorof the CPTPP, in 2017, the remaining 11 countries - Australia, Brunei, Canada,Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam -agreed to maintain the deal and rename it CPTPP.
CPTPPwas inked on March 8, 2018, setting high criteria in numerous fields, includinglabour, the environment, intellectual property, digital economy and cybersecurity. Twenty-two provisions of the CPTPP, including sensitive ones relatedto intellectual property, were suspended or changed in comparison to the TPP.
The deal will create one of the world’s largest free trade blocs with acombined market of 499 million people and GDP of around 10.1 trillion USD,accounting for 13.5 percent of the global GDP.-VNA
Guajardo unveiled the information at the 19th Pacific AllianceCouncil of Ministers Meeting on June 15, stressing that the participation ofColombia, a member of the Pacific Alliance, will help connect the two tradeblocs.
After the US withdrew from the Trans-Pacific Partnership (TPP), the predecessorof the CPTPP, in 2017, the remaining 11 countries - Australia, Brunei, Canada,Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam -agreed to maintain the deal and rename it CPTPP.
CPTPPwas inked on March 8, 2018, setting high criteria in numerous fields, includinglabour, the environment, intellectual property, digital economy and cybersecurity. Twenty-two provisions of the CPTPP, including sensitive ones relatedto intellectual property, were suspended or changed in comparison to the TPP.
The deal will create one of the world’s largest free trade blocs with acombined market of 499 million people and GDP of around 10.1 trillion USD,accounting for 13.5 percent of the global GDP.-VNA
VNA
