The Philippines, Indonesia, and the UAE are preparing to hold discussions paving the way for their participation in the CPTPP, reflecting efforts to expand their free trade network, while members are pushing for the acceptance of Costa Rica.
June 26, 2569 at 10.18:XNUMX a.m. Bloomberg News reported that The Philippines, the United Arab Emirates (UAE), and Indonesia are preparing to begin negotiations to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) economic agreement. This marks another significant step for all three countries in expanding their free trade networks and connecting their economies with member countries in the region.
A joint statement from the CPTPP, released by the Singapore government on Friday, stated that senior officials from the 12 member countries will begin preparatory discussions with the three countries to pave the way for the formal membership application process in the future.
Currently, the CPTPP has 12 member countries: Japan, Canada, Australia, New Zealand, Singapore, Malaysia, Brunei, Vietnam, Chile, Peru, Mexico, and the United Kingdom. The agreement originated from an economic cooperation project spearheaded by the United States in the Asia-Pacific region before the US withdrew in 2560.
Furthermore, the CPTPP ministerial meeting, held online, reaffirmed its commitment to expedite Costa Rica's formal membership and instructed the working group to speed up the consideration of Uruguay's membership application.
Meanwhile, ministers from member states also expressed interest in continuing constructive cooperation with the European Union (EU) through future trade and investment discussions to further promote economic connectivity between the two regions.
refer : bloomberg.com
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