CPTPP trade pact to go ahead as Australia becomes 6th country to ratify

October 31, 2018

A landmark 11-country deal that will slash tariffs across much of the Asia-Pacific will come into force at the end of December after Australia became the sixth country to ratify the agreement, four days after Canada formally approved it.

Australia announced Wednesday it had completed procedures needed for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to progress. It will take effect Dec. 30.

"This triggers the 60-day countdown to entry into force of the agreement and the first round of tariff cuts," said New Zealand Trade and Export Growth Minister David Parker. His country is responsible for official tasks such as receiving and circulating notifications made by members of the pact.

The other four countries that have ratified the agreement are Japan, Mexico, New Zealand and Singapore...

This was excerpted from the 31 October 2018 edition of CBC News.

Topic(s)

Trade Agreements

Information source

Canadian News Channel

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