Ukraine has applied to join Trans-Pacific Partnership
Ukraine sent an official request to the authorities of New Zealand and Japan to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPATPP).
Censor.NET reports with reference to RBC-Ukraine, Reuters reports.
New Zealand, which acts as the legal depository of the partnership, received an official request from Ukraine on May 5 to join, a representative of the Ministry of Foreign Affairs of New Zealand said.
The next steps in the application process will be determined by all members of the CPATPP, which is scheduled to meet in Auckland, New Zealand, on July 16, the spokesman said.
The CPATPP includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. At the same time, Great Britain becomes the 12th member state. China, Taiwan, Ecuador, Costa Rica, and Uruguay also have bids to join.
Japan's Economy Minister Shigeyuki Goto stated at another press conference that Japan, as a member of the CPATPP, "must carefully assess whether Ukraine fully meets the high level of the agreement" in terms of market access and rules.
The Trans-Pacific Partnership is a trade and economic association formed to create a free trade zone in the Asia-Pacific region. It was founded in February 2016. The updated agreement was signed in March 2018 after US President Donald Trump's decision to withdraw from the previous agreement. It is now called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPATPP).
The Ministry of Economy of Ukraine announced in May 2024 that it expects to enter into the Trans-Pacific Partnership agreement in early 2024
According to the ministry, this agreement "will allow Ukraine to liberalize non-tariff restrictions on trade in goods and services with the countries of this region, and will open access to new sales markets." In addition, it will allow us to expand access to foreign direct investment. In particular, the main investors in the economy of the countries of the Trans-Pacific Partnership are the USA, Great Britain, and EU countries.
