TPP signed

On February 4, Trans-Pacific Partnership (TPP) was signed in Auckland, New Zealand.

The following is the Trans-Pacific Partnership Ministers’ Statement:

“We, the Ministers representing Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam, are pleased to announce that we have today signed the Trans-Pacific Partnership agreement.

After more than five years of negotiations, we are honoured to be able to formalise our collective agreement of TPP which represents an historic achievement for the Asia-Pacific region.

TPP will set a new standard for trade and investment in one of the world’s fastest growing and most dynamic regions. We signatories comprise nearly 40 percent of global GDP, a market of more than 800 million people, and around one third of world trade. Our goal is to enhance shared prosperity, create jobs and promote sustainable economic development for all of our nations.

The signing of the agreement signals an important milestone and the beginning of the next phase for TPP. Our focus now turns to the completion of our respective domestic processes.

We recognise the interest shown by a number of other economies throughout the region. This interest affirms our shared objective, through TPP, of creating a platform that promotes high-standards for broader economic integration in the future.”

 

While answering questions from the media, Chinese official of the Department of International Trade and Economic Affairs said China had noticed New Zealand’s holding the signing ceremony participated by the representatives of the 12 TPP member countries. The agreement was signed officially, concluding one more work after the negotiation and the release of the text and before its coming into effect.

TPP has extensive contents, and China is studying it and the evaluation work is in progress. On October 8 of 2015, Chinese Minister of Commerce Gao Hucheng has expressed the general opinions of the Chinese government to TPP in an interview. China will, according to the requirement of the Third Plenary Session of the 18th Central Committee of the CPC on “comprehensively forging a high-level FTZ network facing the world”, actively participate in and promote the regional free trade arrangement with high transparency, liberalization and inclusiveness. China hopes that the free trade arrangements in the Asian-Pacific region will enjoy mutual promotion, and make joint contributions to the trade, investment and economic development of the Asian-Pacific region.

Source: http://english.mofcom.gov.cn/article/newsrelease/significantnews/201602/20160201258219.shtml; https://ustr.gov/about-us/policy-offices/press-office/press-releases/2016/February/TPP-Ministers-Statement

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