30 January 2019
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”) has entered into force on 30 December 2018 following the ratification by six Parties - Mexico, Japan, Singapore, New Zealand, Canada and Australia. Vietnam is the seventh country to ratify the CPTPP.
The CPTPP is a comprehensive, high-standard regional free trade agreement which will create new trade and investment opportunities for Singapore companies in the Asia-Pacific region. It brings together 11 economies from both sides of the Pacific and establishes Singapore’s first preferential trade agreement with Canada and Mexico.
Ministers from Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam have since met in Tokyo, Japan on 19 January 2019 for the inaugural Commission meeting of the CPTPP. Issues relating to implementation, including accession, were discussed. The first Commission meeting marks the start of the CPTPP Parties’ next phase of work, including ratification by all, and the smooth implementation of the CPTPP.
The following press releases are available from the Ministry of Trade and Industry website www.mti.gov.sg:
- The Comprehensive and Progressive Agreement for Trans-Pacific Partnership enters into force in December 2018
- Minister Chan Chun Sing attends inaugural Commission Meeting of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership