China formally applies to join CPTPP trade pact

China formally applies to join CPTPP trade pact

On September 16, China's Ministry of Commerce issued a statement saying that Chinese Commerce Minister Wang Wentao submitted China's application to join the Pacific Free Trade Agreement in a letter to New Zealand Trade Minister Mian O'Connor.

 

On September 17, according to Reuters, Japan said that after the world's second largest economy, China, formally applied to join the Pacific Free Trade Agreement, Japan will have to determine whether China meets the "extremely high standards" of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP).

 

The CPTPP originated from the Trans-Pacific Partnership (TPP) agreement reached by 12 countries including the United States, Japan and Canada in 2015. After Trump took office, he announced that the United States would withdraw from the TPP. Before that, it was called the Trans-Pacific Partnership and was internationally regarded as an important economic force to counter China's regional influence.

 

Joining the CPTPP will be a major boost for China after it signed a comprehensive economic partnership free trade agreement with 15 countries or regions last year . China has been promoting the positive significance of joining the agreement , including emphasizing that the Chinese and Australian economies have great potential for cooperation.

 

Then, in a new alliance announced this week called AUKUS, the United States and Britain said they would provide Australia with technology to deploy nuclear-powered submarines, a move seen as aimed at countering Chinese influence in the Pacific.

 

Chinese Foreign Ministry spokesman Zhao Lijian said on Friday that the application to join the CPTPP has "absolutely nothing to do" with AUKUS.

He told a briefing in Beijing that China was pushing for regional integration while the AUKUS countries were "promoting war and destruction".

 

Japan, which serves as the chair of the TPP- 11 this year , said it would consult with member countries to respond to China's request, but did not release a timetable for the specific work process . Japanese Economy Minister Yasutoshi Nishimura said in an interview on Friday : "Japan believes that it is necessary to determine whether China, which has requested to join TPP-11, is ready to meet its extremely high standards."

 

Singapore's Lianhe Zaobao said that the Ministry of Foreign Affairs of Singapore , one of the CPTPP member countries, issued a statement this week , "Singapore has expressed interest in China joining the CPTPP." This statement means that Singapore was the first to express its acceptance of Beijing.


China

CPTPP

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