Based on the results of the negotiations, Ministers met in recent days in Da Nang and agreed on a number of [...]
Based on the results of the negotiations, the Ministers met in recent days in Da Nang and agreed on a number of important contents. In particular, the new name of the TPP Agreement including 11 member countries is agreed upon as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (abbreviated CPTPP). Below is the statement:
1. When they last met in Hanoi, Vietnam on May 21, 2017, the Ministers of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam reaffirmed the balanced outcome, economic and strategic significance of the Trans-Thailand Partnership Agreement. Binh Duong (TPP) was signed in Auckland on February 4, 2016 (hereinafter referred to as “TPP”). The Ministers emphasized that the principles and high standards of the TPP Agreement are a way to promote regional economic integration, contributing to the economic growth prospects of member countries, creating new opportunities for workers, households, farmers, traders and consumers.
2. In May, Ministers assigned technical discussions to find ways to quickly put the TPP Agreement into effect. In recent months, negotiators have worked hard to achieve a balanced outcome that maintains the important benefits of the TPP Agreement.
3. The Ministers are pleased to announce that TPP countries have reached an agreement on the core elements of the COMPREHENSIVE AND PROGRESSIVE TRANS-PACIFIC PARTNERSHIP AGREEMENT (referred to as the CPTPP Agreement). Ministers also agreed to Annex I and Annex II (attached to the Declaration). These two Annexes integrate all provisions of the TPP Agreement except for a few provisions that are temporarily suspended. The text of the Annexes also includes a list of four specific issues on which countries have made important progress but still require further agreement before signature.
4. The Ministers agreed that the CPTPP Agreement must maintain high standards, overall balance and ensure the integrity of the TPP Agreement while ensuring the trade and other interests of all participating countries. This agreement should also ensure the basic rights of participating countries to govern policy, including flexibility for them to set their own legal and policy priorities. The Ministers also affirmed that each participating country has the right to preserve, develop and implement cultural policies. The Ministers said that the CPTPP Agreement should reflect the desire of participating countries to implement the results they have achieved with each other within the framework of the TPP Agreement.
5. The Ministers confirmed that the legal instrument of the CPTPP Agreement allows participating countries to act decisively and promptly in promoting the goals they share. The Ministers reaffirmed that the CPTPP Agreement demonstrates their firm commitment to opening markets, fighting protectionism and promoting regional economic integration.
6. Regarding Article 6 of the CPTPP Agreement, the Ministers agreed that the scope of the review could be extended to proposed amendments to the CPTPP Agreement to reflect the circumstances related to the status of the TPP Agreement.
7. In addition, the Ministers decided that all bilateral letters signed between the 11 TPP countries will in principle continue to be maintained unless the Parties concerned decide otherwise.
8. The Ministers assigned negotiators to continue implementing technical work, including continuing to complete issues that have not yet reached consensus as well as legally reviewing the English text and translations, in order to prepare the final text for signing.
9. Ministers acknowledged that each country would need to comply with its domestic processes, including public consultation, in advance of signature.
Procedures
