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Trans-Pacific Partnership Agreement Amendment Act 2016

On June 28, 2018, Mexico was the first country to end its internal ratification process of the CPTPP, with President Enrique Pea Nieto declaring: “With this next-generation agreement, Mexico is diversifying its economic relations with the world and demonstrating its commitment to openness and free trade.” [20] [21] On July 6, 2018, Japan became the second country to ratify the agreement. [22] [23] The Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), also known as TPP11 or TPP-11[2][3][5][5], is a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. It was born out of the Trans-Pacific Partnership (TPP), which never came into force because of the withdrawal of the United States. At the time of its signing, the 11 economies of national economies accounted for 13.4% of the world`s Gross Domestic Product (approximately $13.5 trillion), making the CPTP the third largest free trade area after GDP after the US-Mexico agreement, the European Single Market[6] and possibly after the Comprehensive Regional Economic Partnership signed in 2020. Two-thirds of the provisions of the signed CPTPP are identical to the proposed TPP at the time the United States left the negotiation process. The chapter on SOEs remains unchanged and obliges signatories to share information on SOEs with the intention of addressing the issue of state intervention in the market. It contains the most detailed intellectual property standards for a trade agreement and protection against intellectual property theft against companies operating abroad. [14] The TPPA Amendment Bill was passed by 61 votes to 57. Opposition parties in Parliament criticized the government for continuing to advance the law in light of the U.S. election result and the president-elect`s statements on the TPP. (TPP Bill Signed by Parliament as US Signals Its End, RADIO NEW ZEALAND (RNZ) (November 15, 2016); Benedict Collins, Minister of Commerce “Holy Patron of Lost Causes” on TPP, RNZ (11.11.2016).) The agreement for Vietnam came into force on 14 January 2019. [34] [37] [51] Although most of the provisions of the chapter are consistent with New Zealand`s intellectual property regime, some legislative changes have been made to allow ratification of the agreement.

New Zealand has negotiated some flexibility in the implementation of some of the CPTPP commitments. In January 2018, the UK government said it was studying membership of the CPTP to boost exports after Brexit and held informal discussions with several members. [65] The country has an overseas territory, the Pitcairn Islands, in the Pacific Ocean. [66] In October 2018, Japanese Prime Minister Shinzo Abe said he wanted the UK to join the partnership after Brexit. [67] In a joint article with Simon Birmingham, David Parker and Chan Chun Sing, Trade Ministers of Australia, New Zealand and Singapore, UK Trade Minister Liz Truss expressed the UK`s intention to join the CPTPP. [68] The Minister indicated that the Committee on Foreign Affairs, Defence and Trade had reviewed the text of the TPP and the TPP-NationalInterest Analysis and presented its report to Parliament. The legislative amendments introduced by the Act would not come into force until after the TPP for New Zealand comes into force.

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