South Korea decided to join a mega free trade agreement involving 11 Asia-Pacific nations as the country seeks to diversify its export portfolio amid heightened economic uncertainty.
The Indo-Pacific Economic Framework seeks to establish trade rules and is widely seen as an effort by the US to counter China’s influence in the Asia-Pacific region.
Hundreds of South Korean farmers and fishers protested in the country’s financial and political center, Yeouido, demanding the government reconsider its intention to enter into yet another free trade agreement.
It remains unclear as to whether the agreement will be legally binding, whether it will contain dispute resolution mechanisms, and whether it will be an ‘all in’ agreement or allow parties to choose what they sign up to.
A coalition of farmers and fishermen are against the government’s move to join a trade agreement with 11 countries in the trans-Pacific area, saying their livelihoods will be threatened greatly if Korea opens its market to global sellers of cheaper agricultural and marine products.
Los sectores de agricultura y pesca se opusieron firmemente a la medida, y docenas de agricultores y pescadores enojados realizaron una protesta en la sede de la audiencia pública.
South Korea’s application for the CPTPP membership is likely to become possible in June, two months behind schedule, amid opposition from farmers and fishermen and the government’s transition period.
New trigger mechanism keeps US beef on level playing field with other CPTPP countries as beef exports continue to rise.
The American business community’s suggested points for inclusion in the US administration’s proposed alternative to the CPTPP, the Indo-Pacific Economic Framework.
Realpolitik dictates that the deal is also an effective down payment by the UK on its goal to join the Comprehensive and Progressive Partnership Agreement (CPTPP).
AFTINET has raised the alarm over the possibility that British corporations will gain the right to sue the Australian Government if the UK is granted membership in the CPTPP.
People have only ten days to make submissions on the 1700-page secretly negotiated free trade agreement between New Zealand and the United Kingdom.
The free trade agreement between New Zealand and the United Kingdom demonstrates the intransigence of political leaders and their official advisers in the face of concerted demands to rethink the country’s trade policy paradigm.
China applied to join the Trans-Pacific Partnership, and some analysts see it as a Chinese declaration that even with the elimination of tariffs, the country’s products can hold their own now.
The UK International Trade Secretary joined her counterpart in Singapore to sign groundbreaking digital trade deal and strengthen trade ties.
According to the National Farmers Union, the deal would “severely undermine British farmers” and lower the quality of meet sold across the UK.
Australian trade committee recommends that Australia support the applications of the UK and Taiwan, but places conditions on support for China’s accession.
China’s commitments under RCEP will will usher in a new era of liberalization in the country’s services industry.
Canada asked some probing questions and stated this will be an important issue for Canada in judging the UK’s compliance with CPTPP.
Taiwan lifted its ban on most food imports from areas around the Fukushima nuclear power plant, removing an irritant in the bilateral relationship and making it easier for Japan’s government to support Taiwan joining an Asia-Pacific trade deal.