The Philippines has formally expressed interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with the goal of building new relationships with countries outside its existing bilateral free trade agreements.
Inside an electronics factory in the Philippines (Photo: Reuters)
Hanoi (VNA) - The Philippines has formallyexpressed interest in joining the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP), with the goal of building new relationshipswith countries outside its existing bilateral free trade agreements.
Ramon Lopez, secretary of trade and industry, sent asigned letter of intent to New Zealand, the depositary nation of the CPTPP,Nikkei Asia reported.
The newspaper said Lopez asked about the process ofjoining the CPTPP as well as how it operates.
It quoted Ceferino Rodolfo, an undersecretary assaying that it would be critical for the Philippines to engage the CPTPPmembers that are currently not part or not a partner of the Philippines in FTA,which are Canada, Mexico, Peru and Chile.
Nikkei Asia said diversified trade ties could allowthe Philippines to be less dependent on China amid simmering tensions caused byterritorial disputes. China is among the country's top export markets and isits largest trading partner overall.
The original 12 countries participating in CPTPPtalks, including the US, held a summit in Manila in 2015. Then PhilippinePresident Benigno Aquino had expressed an intention to join the TPP, but the countrynever did.
The UK has formally applied to join the CPTPP. Othernations, such as China and Thailand, have also expressed interest./.
The UK made a formal request on February 1 to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the first accession application by a member outside the 11 participating Pacific countries since the trade deal came into force in 2018.
Vietnam and Canada have enjoyed robust trade ties thanks to opportunities brought by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that took effect in Vietnam from January 14, 2019, heard a conference held in Hanoi on March 23.
Preferential tariff treatment under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has brought in robust results to the trade in goods between Vietnam and Canada, according to insiders.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
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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.
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Inside an electronics factory in the Philippines (Photo: Reuters) 
