Trans-Pacific Partnership Agreement (TPP)
The Trans-Pacific Partnership Agreement (TPP) is a free trade agreement that would liberalise trade and investment between 12 Pacific-rim countries.
The countries are New Zealand, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, the United States and Viet Nam.
The concluded TPP Agreement was signed in February 2016. New Zealand, which is the depository for the TPP, ratified the Agreement in May 2017. Japan has also ratified it.
However, the TPP Agreement cannot enter into force until it is also ratified by four other signatories, including the United States. The US has notified that it does not intend to become a party to the Agreement.
In light of the US withdrawal, ministers from the remaining 11 members affirmed the economic and strategic importance of the TPP.
Comprehensive and Progressive Agreement for Trans-Pacific Partnership
On 9-10 November 2017 in Da Nang, Viet Nam, Trade Ministers from eleven countries agreed the legal instrument for the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP). An outline [PDF, 42 KB] of the Agreement has been issued.
CPTPP will incorporate the original TPP Agreement, with the exception of a few technical provisions. These provisions deal with legal issues, such as when the Agreement becomes legally binding and how new countries can join.
The Ministers also agreed to suspend a ‘List of Suspended Provisions’ [PDF, 62 KB] contained in the original TPP.
In addition, Ministers agreed to a list of four specific items contained in the ‘Items to be Finalised by the Date of Signature.’ These are included at the end of the List of Suspended Provisions.
Ministers tasked their officials to continue their technical work toward finalising those four items by the date of signature of the Agreement.
The eleven countries in the CPTPP are: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Viet Nam.
Ministerial statement - 11 November 2017 [PDF, 57 KB]
TPP website (external link) detailed information about TPP and the text of the Agreement
TPP Depositary page contains the official text and the status of the Agreement.