On January 23rd, Canada and the ten other members of the Trans-Pacific Partnership concluded discussions on a new Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The CPTPP will give Canadian exporters from a broad range of sectors, new preferential access to important markets in the Asia-Pacific region.
The parties are working towards signing the agreement by early March 2018. The agreement will enter into force once the parties have completed their internal ratification processes.
- The eleven member countries of the CPTPP are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
- The CPTPP countries will eliminate over 95% of their tariffs once the agreement enters into force.
- The members of the CPTPP represent 494 million people, with a combined GDP of US$10.2 trillion, or 13.6% of global GDP.
- Key sectors will benefit from this agreement including agriculture, fish and seafood, forestry and wood products, textiles and apparel, information and communications technologies, chemicals, and services (financial, professional, and environmental).
We are following the developments of this agreement closely and will provide updates as new information becomes available.
If you have any questions, feel free to contact our Technical Consulting team:
Manager, Technical and Consulting Services
Senior Technical Consultant