|Japanese Economic Minister Toshimitsu Motegi (Source: AFP)
CPTPP is a replacement pact after US President Donald Trump pulled his country out of the Trans-Pacific Partnership (TPP) agreement in 2017.
The agreement was reached during a two-day meeting in Tokyo, Japan, where chief negotiators of the 11 member nations addressed disagreements among them, including Canada’s restricting foreign films to protect its cultural industries.
Japan plans to explain the importance of the CPTPP to the US, the Japanese Minister said, hoping that the country will be convinced to join the agreement.
Previously in November 2017, trade ministers of the 11 nations, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam met up in the framework of the APEC Economic Leaders’ Week in the central city of Da Nang, and agreed to maintain the TPP after the US’s pull out.