The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is hoped to take effect in December 2018 after Australian Prime Minister Scott Morrison announced on October 30 that his country had ratified the agreement.
Ministers pose for an official picture after signing the rebranded 11-nation Pacific trade pact Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in Santiago, Chile, on March 8, 2018 (Source: AFP/VNA)
Hanoi (VNA) - The Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP) ishoped to take effect in December 2018 after Australian Prime Minister ScottMorrison announced on October 30 that his country had ratified the agreement.
According to foreign media, Morrison saidAustralia is the six country coming on board, adding that the CPTPP is one of the most comprehensive and ambitious tradeagreements in Australia's recent history.
Meanwhile, Minister for Trade and ExportGrowth of New Zealand David Parker said Australia's ratification triggersthe 60-day countdown to entry into force of the agreement and the first roundof tariff cuts.
Previously, Mexico, Japan, Singapore and New Zealand andCanada had ratified the CPTPP.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership – therevised trade deal born out of the Trans-Pacific Partnership Agreement (TPP)following the withdrawal of the United States last year – will be provisionallyenacted 60 days after it is ratified by six countries.
David Parker said “the importance of CPTPP has grown over recent months withthe rapid escalation of protectionist measures around the world”.
He noted that New Zealand's adoption of the deal means thatin the future, its businesses will be able to benefit from improved tradeconditions and reduced tariffs.
According to a recent report by the Economic and Social Commission for Asia and the Pacific (UNESCAP), increasedtrade protectionism will slow down economic growth, especially in developingcountries.
The World Bank has estimated that if trade barriers arecompletely removed, developing countries can increase their budget revenues andbring millions of people out of poverty.
The CPTPP is one of the most comprehensive trade deals everconcluded and strips 98 percent of tariffs for 11 countries with a combined GDPof more than 13.5 trillion USD and close to 500 million consumers.
It was signed by 11 member states, namely Australia,Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore,and Vietnam in March 2018.–VNA
The Australian Senate passed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on October 17, making Australia the fourth signatory country to ratify the trade deal.
The New Zealand government announced on October 25 that it has formally ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Vietnamese businesses should actively prepare the best conditions to take the advantage of preferences to be brought by the Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP), said experts at a seminar in Ho Chi Minh City on October 25.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was passed by Canadian Senate on October 25, paving the way for Canada to be among the first six countries to ratify the pact.
Canada has filed its notice of ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with New Zealand which acts as the depository country overseeing the deal’s implementation.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Ministers pose for an official picture after signing the rebranded 11-nation Pacific trade pact Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in Santiago, Chile, on March 8, 2018 (Source: AFP/VNA) 
