CPTPP

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a multilateral trade agreement among Pacific Rim economies. It originated from the Trans-Pacific Partnership after the United States withdrew from that agreement in 2017. Eleven signatories finalized the CPTPP in 2018, and the pact subsequently entered into force for several members with others joining over time.

The CPTPP aims to liberalize trade by reducing tariffs, expanding market access, and establishing high-standard rules for goods, services, and investment. It covers digital trade and e-commerce, intellectual property, state-owned enterprises, subsidies, and government procurement, while preserving policy space for members. The agreement also includes provisions on labor and environmental standards and dispute settlement mechanisms.

Membership initially included 11 economies: Australia, Canada, Japan, Mexico, Singapore, Malaysia, Peru, Vietnam, New Zealand, Chile, and Brunei. The United Kingdom joined the CPTPP in 2023, expanding the bloc to include an additional major economy. Other economies may accede through the formal accession process agreed by existing members.

Economically, the CPTPP accounts for a substantial share of global trade, covering roughly 500 million people and a significant portion of world GDP. It is regarded as a major framework for regional economic integration in the Asia-Pacific region, reflecting a commitment to high-standard, rules-based trade outside of a direct U.S. trade framework.