[KITA News] U.K. soon to agree with member states including Japan on joining CPTPP

                                                

U.K. soon to agree with member states including Japan on joining CPTPP

“U.K., soon to agree with member states

including Japan on joining CPTPP…

Signing will take place in July”

 

 

“U.K., soon to agree with member states

including Japan on joining CPTPP…

Signing will take place in July”

Report by Japan’s Jiji News...

Upon signing, countries will go through individual procedure,

And make official decision on new membership

In regard to the U.K. joining of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Japan’s Jiji News reported on March 29 that the 11 participating countries including Japan and Australia will soon agree on the larger framework. According to Jiji News, participating countries including the U.K. and Japan will agree on the larger framework, while matters will be coordinated so that the Agreement documents can be signed in New Zealand in July of this year.

 

After each of the participating countries sign the Agreement’s application documents, they will go through their individual domestic procedures, upon which the United Kingdom’s newly applied membership will be officially determined. According to Jiji News, when the decision is made, the first big ordeal since the announcement of the CPTPP will have to be overcome. Previously, on March 28, Fuji News Network (FNN) reported that the larger framework for U.K.’s joining of the CPTPP shall be agreed upon some time in March. The U.K. will thus become the 12^th member nation.

 

CPTPP is an agreement that prescribes strict provisions on free trade and economic activity, including the elimination/lowering of tariffs for agricultural goods and industrial products, and the protection of intellectual property rights. Originally, this was led by the United States and Japan under the name, Trans-Pacific Partnership (TPP). However, as former U.S. President Donald Trump withdrew from the Agreement in 2017, it was renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and some of the provisions were deferred. Eventually, the CPTPP was led by Japan and 11 countries participated. It became effective in 2018. To newly apply to the CPTPP, the consent of all 11 countries is required.

 

(Provided by Newsys)

By - KITA.Net (http://kita.org/about/newsView.do?id=&no=2775&searchWrd=&pageIndex=2)