Vietnamese Minister of Industry and Trade Tran Tuan Anh (L) and Japanese Minister of Economic Revitalisation Toshimitsu Motegi chair a press conference on the TPP on the sidelines of the APEC Economic Leaders' Week in Da Nang city in November 2017 (Photo: VNA)Hanoi (VNA) – TheComprehensive and Progressive Trans-Pacific Partnership (CPTPP) scheduled to beinked by ministers of the 11 member countries in Chile on March 8.
The trade pact is set to take effect in the beginning of 2019 after it isratified by at least six member countries.
The 11 CPTPP economies make up about 13 percentof the global GDP.
After the US withdrew from the Trans-PacificPartnership (TPP), the predecessor of the CPTPP, in 2017, the remaining 11countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, NewZealand, Peru, Singapore, and Vietnam) agreed to maintain the deal and renameit CPTPP.
They agreed on the revised content of theagreement on January 23, 2018.
On February 21, the full text of the CPTPP wasannounced, which is considered a sign showing that the 11 countries are readyto sign the agreement.
According to Reuters, more than 20 provisions ofthe CPTPP were suspended or changed compared to the TPP.
Earlier, US President Donald Trump said hiscountry would consider re-entering the CPTPP if the US could get a betterdeal.-VNA
VNA
