Chinese Taipei is the latest of three countries seeking to join the CPTPP – the Comprehensive and Progressive Agreement for Trans Pacific Partnership.
When it comes to their position on the applications, CPTPP members are divided. The CPTPP operates on unanimous consent, so if even one country is against an application, membership will not be granted.
China’s restrictive practices present fundamental problems for its application to join a major pan-Pacific free trade pact, and if it joins before Taiwan there is a risk it could block their application.
At the opening ceremony of the Beijing Summit of the Forum on China-Africa Cooperation held in September 2018, Chinese President proposed that China would launch eight major initiatives in close collaboration with African countries.
When China applied earlier this month to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the renamed 11-nation trade pact spanning Asia and the Pacific, Beijing seemed to hand Australia the rare diplomatic gift of leverage.
Trade between China and Africa almost doubled between 2020 and 2021, and over the last 20 years trade between China and the region has increased twenty-fold.
China will likely fail in its bid to join the Comprehensive and Progressive Trans-Pacific Partnership — but its move to submit an application highlighted the lack of U.S. economic policy in Asia-Pacific, said analysts.
Taiwan formally submitted an application to join the Trans-Pacific Partnership free trade deal, the government said, just days after mainland China filed its bid for membership.
CPTPP members will have a robust discussion on China’s application. It’s hard to argue that Beijing’s trade regime will be in line anytime soon with CPTPP disciplines on state-owned enterprises, labor, digital trade, and intellectual property protection, among other concerns.
The senate on September 20 unanimously passed (38-0) two draft laws authorising the ratification of the Regional Comprehensive Economic Partnership (RCEP) agreement and the bilateral Cambodia-China Free Trade Agreement (CCFTA).
The government aims to sign mini-Free Trade Agreements (FTAs) with other provinces in China following strengthened partnerships from the first FTA with Hainan province in late August.
China’s entry to the CPTPP trade pact will not be easy, requiring the agreement of all existing members, including countries experiencing strained ties with Beijing such as Canada and Australia.
Beijing has applied to join an Asia-Pacific trade pact once pushed by the U.S. as a way to isolate China and solidify American dominance in the region.
Countries that have signed on to the East Asia-spanning RCEP trade deal are going full speed ahead with plans to implement it on Jan. 1, 2022, despite foot-dragging by a majority, with China and ASEAN especially keen, for their own reasons, on seeing the pact come into force soon.
Uruguay and China will begin negotiations to seek a bilateral free trade agreement, Uruguayan President Luis Lacalle Pou announced, an issue that has generated risks within Mercosur.
A long-awaited trade deal with South Korea may be signed next month, according to the country’s ambassador to Cambodia.
The European Parliament’s Foreign Affairs Committee adopted a report that urged the EU to begin work on a bilateral investment agreement with Taiwan.
African leaders still have incentives to maintain the partnership between the two continents, not least because of the trade links and development assistance Europe offers. But they also have a strong interest in revising that relationship.
Wang pledged to support Hong Kong in joining “as soon as possible” the Regional Comprehensive Economic Partnership (RCEP), the world’s biggest free-trade deal covering China and 14 other nations in the Asia-Pacific region.
AfCFTA was supposed to usher in a new era of continental trade and economic growth—but Beijing’s not letting that happen.