Uruguay to Start CPTPP Membership Talks

Melbourne, Nov. 21 (Jiji Press)–Signatory countries to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, decided at a ministerial meeting Friday to launch membership talks with Uruguay. The 12 signatories, including Japan, also agreed at the meeting in Melbourne, southeastern Australia, to hold such talks with the Philippines, Indonesia, and the United Arab Emirates from 2026 if conditions are met. They are expected to conclude by the end of December year-long negotiations with Costa Rica on the Central American nation’s accession. Meanwhile, the CPTPP ministers refrained from giving the go-ahead for talks with China, Ecuador, Taiwan and Ukraine on their applications. After the meeting, Japanese state minister Kazuchika Iwata told reporters, “While it is important to expand the free and rules-based CPTPP, I strongly stated that the process of accepting new members should be conducted from a strategic viewpoint.” To become a member, an economy must meet the pact’s high standards such as tariff elimination, abide by trade-related laws and regulations and obtain existing members’ unanimous approval. Emphasizing the partnership’s significance in promoting transparent, predictable trade, Australian trade minister Don Farrell, the chair of the meeting, expressed willingness to increase market access through measures including expanding its framework. END [Copyright The Jiji Press, Ltd.]