ISDS Case Map
CPTPP
Comprehensive and Progressive Agreement for Trans-Pacific Partnership
When China applied earlier this month to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the renamed 11-nation trade pact spanning Asia and the Pacific, Beijing seemed to hand Australia the rare diplomatic gift of leverage.
China will likely fail in its bid to join the Comprehensive and Progressive Trans-Pacific Partnership — but its move to submit an application highlighted the lack of U.S. economic policy in Asia-Pacific, said analysts.
Taiwan formally submitted an application to join the Trans-Pacific Partnership free trade deal, the government said, just days after mainland China filed its bid for membership.
CPTPP members will have a robust discussion on China’s application. It’s hard to argue that Beijing’s trade regime will be in line anytime soon with CPTPP disciplines on state-owned enterprises, labor, digital trade, and intellectual property protection, among other concerns.
China's entry to the CPTPP trade pact will not be easy, requiring the agreement of all existing members, including countries experiencing strained ties with Beijing such as Canada and Australia.
Beijing has applied to join an Asia-Pacific trade pact once pushed by the U.S. as a way to isolate China and solidify American dominance in the region.
Member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreed to hold within a month a first meeting with Britain to discuss its inclusion in the trade deal.
Britain aims to conclude negotiations to join the trans-Pacific trade group by the end of 2022, said International Trade Secretary Liz Truss.
China is set to upgrade its current free trade agreements (FTAs) and is actively considering joining the CPTPP for further expansion of opening-up, as the agreements have played a vital role in Chinese foreign trade.
Britain is nearing an agreement in principle on a free trade deal with New Zealand, its trade ministry said, as London looks to bolster its post-Brexit trade ties with non-EU partners.
