22, less than a week after China applied for membership in the trade group. Taiwan’s application to join the CPTPP was submitted on Sept. Its 11 signatories are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The CPTPP, which grew out of the Trans-Pacific Partnership after the US left that pact in 2017, is one of the world’s largest trade blocs, representing a market of 500 million people and accounting for 13.5 percent of global trade. “It’s up to China if it wishes to re-engage with Australia, and I hope it does because that would enable the discussions that are necessary to determine whether an accession process should commence.” “The ball is in their court,” O’Brien said in the statement. Feature image via Nike, other images via brands mentioned.
This article was first published in May 2017 and updated in September 2021.
#BLOCS APP REVIEW 2017 FULL#
The committee stopped short of recommending China’s inclusion in the CPTPP.Īny support for China’s bid would require Beijing to re-establish full trade relations with Australia, including “ending its coercive trade measures and re-engaging in ministerial dialogue, and to demonstrate an ability and willingness to commit to the CPTPP’s high standards,” the committee said. Check out the ‘Your Voice’ function on the app or slide into their DMs on social media to let them know what you think. The UK and China have also applied to join the CPTPP, and a review process for the UK’s accession is ongoing. “A lesson from our experience with the UK is that benefits accrue from negotiating a bilateral FTA and the CPTPP at the same time, and we see merit in replicating this approach with Taiwan,” Australian Member of Parliament Ted O’Brien, chair of the trade subcommittee, said in a parliamentary statement.
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