THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Final version of CPTPP released
VGP - The final version of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was released on February 21, a step closer to reality for official signing by 11 participating countries.
The landmark pact aims to cut trade barriers among the members that rank among the fastest growing economies in the Asia-Pacific region.
According the latest version, more than 20 provisions have been suspended or changed, including rules on intellectual property.
The deal will reduce tariffs in economies that have a combined GDP of more than 13 percent of global GDP.
“CPTPP has become more important because of the growing threats to the effective operation of the World Trade Organization rules,” New Zealand Trade Minister David Parker said on Wednesday.
The 11 member countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Viet Nam./.
By Huong Giang