Free Trade Agreements/Partnerships
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is an open and inclusive FTA among 12 economies: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom and Vietnam.
About the CPTPP Agreement
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership ("CPTPP") is a Free Trade Agreement ("FTA") among 12 economies: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom, and Viet Nam. It originated and expanded from the Trans-Pacific Strategic Economic Partnership (P4), a 2005 FTA among Brunei Darussalam, Chile, New Zealand, and Singapore. The CPTPP Agreement contains commitments aimed at easing and growing trade and investment among its members. This includes eliminating tariffs on 94 to 99% of trade in goods, reducing non-tariff barriers, easing services and investment regulations, and establishing digital trade rules, among others. The CPTPP members collectively represent approximately 15% of global GDP.
The CPTPP Agreement came into force for Singapore on 30 December 2018. It was concluded on 23 January 2018 in Tokyo, Japan, and signed on 8 March 2018 in Santiago, Chile. Singapore ratified the CPTPP on 19 July 2018, the third economy to do so after Mexico and Japan. The CPTPP continues to expand its membership. The Agreement is open to any State or Separate Customs Territory prepared to meet its obligations, and the accession process is a central part of the CPTPP’s ongoing work. CPTPP members also regularly upgrade the Agreement’s commitments to keep them current and of high quality.