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South Korea actively considers joining the CPTPP

South Korea actively considers joining the CPTPP

South Korean President Moon Jae-in

According to Yonhap News Agency on January 11, the South Korean government said today that it is actively considering joining the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) and will improve a series of domestic systems in the first half of the year to prepare for this purpose.

Hong Nanji, Vice Prime Minister of Economy and Minister of Finance for Planning and Finance of South Korea, presided over the meeting of the Chief Foreign Economic Officers’ Meeting and the Committee on the Application of the Fund for Foreign Economic Assistance (EDCF) in the office building of the Central Government on the 11th.

At the meeting, the “2021 Foreign Economic Policy Promotion Strategy” including the above contents was finalized.

According to the strategy, in order to meet the norms and requirements of the CPTPP, the government will formulate domestic system improvement plans in four major fields: health quarantine, aquaculture subsidies, trade digitization and state-owned enterprises in the first half of the year.

Earlier, South Korean President Moon Jae-in said on the 8th that he was considering joining the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP).

According to the report, this is the first time that Moon has expressed his consideration of joining the agreement.

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