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Trans-Pacific Partnership to Enter Into Force on 30 December

Sputnik International

MOSCOW (Sputnik) - The Trans-Pacific Partnership (TPP) agreement will enter into force on 30 December, 60 days after Vietnam, the seventh party to the TPP, had... 30.12.2018, Sputnik International

2018-12-30T05:25+0000

2022-08-06T12:28+0000

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Trans-Pacific Partnership to Enter Into Force on 30 December

05:25 GMT 30.12.2018 (Updated: 12:28 GMT 06.08.2022)

© AP Photo / Esteban Felix(File) From left, Singapore's Minister for Trade and Industry Lim Hng Kiang, New Zealand Trade Minister David Parker, General Secretary Ministry of International Trade and Industry of Malaysia Y.Bhg. Datuk J. Jayasiri, Canada's Minister of International Trade Francois-Philippe Champagne, Australian Minister for Trade and Investment Steven Ciobo, Chile's Foreing Minister Heraldo Munoz, Brunei's Foreign Minister Haji Erawan bin Pehin Yusof, Japan's Trans-Pacific Partnership minister Toshimitsu Motegi, Secretary of Economy of Mexico Idelfonso Guajardo, Peru's Trade Minister Eduardo Ferreyros and Vietnamese Trade Minister Tran Tuan Anh, poses for a pictures after the signing ceremony of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, CP TPP, in Santiago, Chile, Thursday, March 8, 2018

(File) From left, Singapore's Minister for Trade and Industry Lim Hng Kiang, New Zealand Trade Minister David Parker, General Secretary Ministry of International Trade and Industry of Malaysia Y.Bhg. Datuk J. Jayasiri, Canada's Minister of International Trade Francois-Philippe Champagne, Australian Minister for Trade and Investment Steven Ciobo, Chile's Foreing Minister Heraldo Munoz, Brunei's Foreign Minister Haji Erawan bin Pehin Yusof, Japan's Trans-Pacific Partnership minister Toshimitsu Motegi, Secretary of Economy of Mexico Idelfonso Guajardo, Peru's Trade Minister Eduardo Ferreyros and Vietnamese Trade Minister Tran Tuan Anh, poses for a pictures after the signing ceremony of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, CP TPP, in Santiago, Chile, Thursday, March 8, 2018 - Sputnik International

MOSCOW (Sputnik) - The Trans-Pacific Partnership (TPP) agreement will enter into force on 30 December, 60 days after Vietnam, the seventh party to the TPP, had ratified the deal.

The document will take effect from 14 January of the following year. Four more countries of the union, Brunei, Malaysia, Peru and Chile have not yet ratified the agreement.

For them, the deal will take effect 60 days after ratification.

In November, the Vietnamese parliament ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and related documents, according to local media reports.

The Japanese national flag is seen at a cargo terminal area of Tokyo port on June 8, 2016. Japan's economy expanded at a slightly faster pace than first thought, revised figures showed June 8, knocking hopes that the central bank will unleash fresh stimulus this month. - Sputnik International

Japan Would Prefer UK Have Some Sort of Deal Before Trying to Join TPP – Prof

10 October 2018, 03:13 GMT

Following the US withdrawal, the 11 remaining nations continued their efforts to create a free trade zone. On March 8, the foreign ministers of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam signed the revised version of the TPP.

The TPP was signed in 2016 and originally brought together 12 Pacific Rim nations, including the United States. However, new US President Donald Trump, who repeatedly criticized TPP during his election campaign, withdrew the country from the deal in 2017, arguing that poorly negotiated trade agreements were harmful to the US job market.