Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

Context: The United Kingdom formally signed a treaty to join a major Indo-Pacific bloc —‘Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP)’ About CPTPP:
  • The CPTPP requires countries to eliminate or significantly reduce tariffs and make strong commitments to opening services and investment markets.
  • Members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Singapore and Vietnam.
  • It laid down rules addressing competition, intellectual property rights and protections for foreign companies. 
  • Geopolitical Significance: CPTPP is seen as a bulwark against China’s dominance in the region.
  • Benefit: CPTTP will cut tariffs for UK exports to Asia Pacific countries.
News Source: The Indian Express  

Leave a Reply

Your email address will not be published. Required fields are marked *