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Republic of Korea works to submit application for CPTPP in April

The Republic of Korea (RoK) will submit an official application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in April next year, said Finance Minister Hong Nam-ki.
Republic of Korea works to submit application for CPTPP in April ảnh 1RoK Finance Minister Hong Nam-ki speaks at a press conference in Seoul on December 20, 2021. (Photo: Yonhap/VNA)
Seoul (VNA) – The Republic of Korea (RoK) willsubmit an official application to join the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP) in April next year,said Finance Minister Hong Nam-ki.

According to the minister, the RoK will acceleratethe process of collecting public opinions and building social consensus.

Hong said at a meeting with other export andtrade-related officials that a task force composed of relevant ministries willdiscuss the impact of the joining and contact member countries of the CPTPP,while pushing to submit an official application to accede to the tradeagreement in the middle of April.

Earlier, the RoK government earlier said that it had begunthe process to join the mega deal as part of efforts to diversify its exportportfolio.

Launched in December 2018, the CPTPP was signed by 11countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Its totaltrade volume hit 5.7 trillion USD as of 2019, accounting for 15.2 percent ofthe total global trade value, according to a report by the Korea Institute forIndustrial Economics and Trade./.
VNA
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