US urged to join mega APAC trade deal by China’s former chief trade negotiator

Long Yongtu says United States should work with China to merge the CPTPP trade agreement with the Regional Comprehensive Economic Partnership

At the Boao Forum for Asia on Monday, one expert says there is an opening for the United States to compete with China in Asia, because so many countries are wary of Beijing

Reading Time:3 minutes

China’s former trade chief, Long Yongtu, wants the United States and China to work together to form a free-trade partnership in the Asia-Pacific region. Photo: Yujing Liu

Published: 9:30pm, 19 Apr 2021Updated: 9:20am, 21 Sep 2021

The United States should rejoin the Comprehensive and Progressive Trans-Pacific Partnership agreement (CPTPP) and work with China to merge the agreement with the Regional Comprehensive Economic Partnership (RCEP) to create a huge free-trade area that would include the two largest economies in the world, according to China’s former chief trade negotiator, Long Yongtu.

The CPTPP is an ambitious trade agreement that was created after the US withdrew from the original Trans-Pacific Partnership during the administration of former US president Donald Trump. Merging the RCEP with the CPTPP would create the largest free-trade pact in the world.

With China already a member of the RCEP, and Beijing having already shown its willingness to join the CPTPP, Washington’s stance is key to economic integration in the region, said Long, the former Chinese vice-minister of international trade and the point man during the country’s years-long talks to gain access to the World Trade Organization in 2001.

The participation of the US would definitely be good news for the Asian regional economic integration. We need to convey such a message to the US president

Long Yongtu

“We hope that the Biden administration can adopt a more positive attitude towards multilateralism, starting with [rejoining] the TPP, so that the entire Asia-Pacific region will be very happy,” he said at the Boao Forum for Asia on Monday. “The participation of the US would definitely be good news for the Asian regional economic integration. We need to convey such a message to the US president.”

Long also said that the conditions for integrating the RCEP with the CPTPP are already very mature, given that the two free-trade agreements have several common member states – Japan, Australia, New Zealand, Singapore, Vietnam, Brunei and Malaysia. Chinese President Xi Jinping has said China is “actively considering” joining the CPTPP.

His comments came as political tensions remain heated between the world’s two largest economies, which have clashed on issues ranging from Beijing’s policies in Xinjiang to Hong Kong and Taiwan, leading to calls for economic decoupling.

“If the US cannot become a part of the Asia-Pacific trade agreement, it will be a heavy blow to the unity and cooperation of the entire Asia-Pacific region,” Long said.

Select Voice

Choose your listening speed

Get through articles 2x faster

1.25x

250 WPM

Slow

Average

Fast

00:0000:00

1.25x