China’s CPTPP trade-pact aspirations bring vows for reform as Beijing reaches out to members

Name: CPTPP could become game changer and supplant 'out-of-date' WTO, after mainland China, Taiwan apply
Uploaded: 2022-02-17T20:00:20.000Z
Duration: 11 min 11 s
Description: CPTPP could become game changer and supplant 'out-of-date' WTO, after mainland China, Taiwan apply

But analysts say Beijing’s bid to join Comprehensive and Progressive Agreement for Trans-Pacific Partnership may be a tough sell among some members

Application to join Digital Economy Partnership Agreement could also see China play a more active role in the world’s digital economy

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China says it has conducted ‘sufficient, holistic and profound’ research into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Illustration: Craig Stephens

Orange WangandWendy Wu

Published: 4:00am, 18 Feb 2022Updated: 4:24am, 18 Feb 2022

China is progressing in its talks with the members of major trade deals, as Beijing continues to advance its accession bids, which have the potential to reshape the global trade landscape.

“China has been reaching out to, and discussing with, members of the major Pacific Rim trade deal based on the accession procedure of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),” Gao Feng, spokesman for the commerce ministry (Mofcom), said at a weekly press conference on Thursday.

Gao also said China has conducted “sufficient, holistic and profound” research into, and assessments of, that deal.

And he vowed that China is willing to adhere to the rules and standards of the CPTPP via reforms, while committing to greater market access, to share in the deal’s huge market potential.

China officially submitted its application in September to join the CPTPP, soon after the United States, Australia and Britain formed the Aukus security and military pact. The US formally abandoned the Trans-Pacific Partnership, the predecessor to the CPTPP, in January 2017.

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CPTPP could become game changer and supplant 'out-of-date' WTO, after mainland China, Taiwan apply

Taiwan submitted its bid to join the trade bloc six days after China. Beijing, which considers the self-ruled island a breakaway province to be reunited by force if necessary, opposes Taiwan’s bid to join any official international agreements and organisations.

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