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Development, Trade and Foreign Affairs

FTAs in Asia-Pacific

With the continuous proliferation of free trade agreements (FTAs) in the Asia and Pacific region, this section provides a list of FTAs either signed but not in effect, or signed and in effect in order to track the development of FTA negotiations.

1. Trans-Pacific Partnership

(To download the agreement text and its annexes, visit here)

With the objective of building on the high-quality benchmarks set in 2005 by the P4 Agreement between New Zealand, Brunei, Chile and Singapore, TPP’s foundations were set in September 2008 when the US announced its participation in comprehensive negotiations for an expanded P4 Agreement. This announcement was followed by Australia, Peru and Viet Nam.

The first round of negotiations was held in Australia in March 2010. Malaysia joined the third round of negotiations in Brunei in October 2010, with Canada and Mexico joining the negotiation at the fifteenth round in December 2012 in Auckland. At the eighteenth round in 2013 Japan was welcomed as the newest TPP participant, bringing the TPP membership to twelve. A total of nineteen formal rounds were held, plus a number of informal negotiating meetings and meetings between Ministers and Leaders.

The 12 TPP Parties collectively constitute approximately 36 percent of world GDP – worth a total of US$28 trillion.

2. Comprehensive and Progressive Agreement For Trans-Pacific Partnership

(To download the text agreement and its annexes, visit here)

The comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will be a free trade agreement involving 11 countries in the Asia-Pacific region, including New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, and Vietnam.

The CPTPP includes many of the elements that were negotiated as part of the Trans-Pacific Partnership (TPP), but with some significant differences. Following the withdrawal of the United States from the process in January 2017, the remaining participants agreed to establish and negotiate a new agreement that would suspend 22 items from the TPP. This means that a number of TPP-related outcomes that were of concern to New Zealanders in the areas of investment, intellectual property and pharmaceuticals have been suspended.

The economies included in the CPTPP account for 13.5 percent of world GDP – worth a total of US$10 trillion.

 

 

 

 

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KHOV EA HAI

KHOV EA HAI

Researcher and Trade Economist

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