New Zealand ratifies CPTPP
New Zealand has ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Trade minister David Parker made the announcement on 24 October 2018 from Ottawa.
In making his announcement Mr Parker highlighted the economic significance of the CPTPP agreement, which brings together countries with a combined population of 480 million consumers accounting for 13.5% of global GDP.
New Zealand's ratification follows those of Mexico, Japan and Singapore. CPTPP comes into force 60 days after six signatories notify New Zealand, as CPTPP depositary, that they have completed their domestic procedures to ratify the agreement.
When CPTPP enters into force New Zealand and Mexico will for the first time become partners in a free trade agreement.