Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP)

2024-05-20

About CPTPP

CPTPP members include 11 countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, with a population size of nearly 500 million (accounting for 7% of the world); total GDP exceeding USD 11 trillion (13.1% of the world); and trade accounts for over 24% of our country's total trade value.

On July 16, 2023, CPTPP Parties signed an Accession Protocol with the United Kingdom. The CPTPP will enter into force for the U.K. once all CPTPP members and the U.K. complete their respective ratification processes. If all members have not ratified by October 16, 2024, the Accession Protocol will enter into force after 6 CPTPP members and the U.K. ratify the Agreement.

 

The CPTPP was signed by the 11 countries on 8 March 2018 in Santiago, Chile.

 

The CPTPP entered into force on 30 December 2018 for:

●Australia

●Canada

●Japan

●Mexico

●New Zealand

●Singapore

on 14 January 2019 for:

●Vietnam

on 19 September 2021 for:

●Peru

on 29 November 2022 for:

●Malaysia

and on 21 February 2023 for:

●Chile

and on 12 July 2023 for:

●Brunei Darussalam


Taiwan applies to join CPTPP

Taiwan officially submitted an applicationto join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in September 22,  2021. This not only represents an important process for Taiwan's external trade but also marks a major step forward in Taiwan's ambitions for participating in regional economic integration since joining the World Trade Organization.
 

Time and again President Tsai Ing-wen has underscored the importance of Taiwan's accession to the CPTPP, the premier continued. Government agencies have for many years been preparing for this bid, engaging in consultations and discussions with member countries through informal channels, and revising and amending regulations, systems and operating methods.

 

Its member economies are major trade partners to Taiwan and account for over 24 percent of Taiwan's total international trade. If Taiwan is to grow its economy and continue to expand its exports, it will be imperative to integrate with regional economies, bilaterally as well as multilaterally.

 

Taiwan is an advanced economy that plays an irreplaceable role in the global high-tech industrial supply chain. It also has a highly transparent market economy, and has the ability and the willingness to respect the global marketplace's high standards.

 

 

 

CTR:6523
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