On the 20th Japanese Prime Minister Yoshihide Suga stated that Japan’s goal of the Comprehensive Trans-Pacific Partnership Agreement (CPTPP) is to further expand this free trade zone.
Reuters reported on the 20th that Japan will assume the rotating chairmanship of the CPTPP next year. Yoshihide Suga said in a pre-recorded video speech for the Asia-Pacific Economic Cooperation (APEC) President’s Summit Dialogue, “Japan hopes to approve the “Regional Comprehensive Economic Partnership” at an early date. At the same time as the Relations Agreement (RCEP), the CPTPP free trade zone can be steadily implemented and expanded.”
According to reports, the United Kingdom and other countries are potential candidates for CPTPP. The United Kingdom announced its intention to join the CPTPP earlier in 2020.
CPTPP is one of the world’s largest free trade agreements, formerly known as the “Trans-Pacific Partnership Agreement” (TPP), which was originally finalized by 12 countries led by the United States. After the Trump administration withdrew from the TPP in early 2017, the remaining 11 countries signed the CPTPP in March 2018. Member states include 11 countries including Japan, Mexico, Singapore, Canada, New Zealand, Australia, Vietnam, Brunei, Chile, Peru and Malaysia, covering more than 500 million people.