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Comprehensive Agreement for Trans-Pacific Partnership Entered into Force

35 2 10
16.01.2019

1 January 2019 marked the third day since the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) came into force. Irrespective of what will happen during this whole, still new year, the aforementioned event will remain among the most significant ones not only for the Indo-Pacific region but for the entire world.

Hence, it seems apt to briefly remind our readers about the history of establishing the CPTPP. The year 2005 should mark its conception. This is when Brunei, New Zealand, Singapore and Chile signed an agreement on establishing a quadrilateral free trade zone, which was then dubbed the Trans-Pacific Partnership (TPP). In 2008, the United Stated expressed its interest in joining the TPP, which immediately instilled global significance in the new initiative. Mainly, because from that point in time, the project’s key participants began to view it from the real-world perspective of a novel, in principle, world order that began taking shape after the Cold War. A key feature of it became the transformation of China into the second world power.

The Barrack Obama administration began to increasingly regard the TPP project as half of the global framework that had to be established in preparation for the upcoming confrontation with China.

Its second half was meant to be the Trans-Atlantic Trade and Investment Partnership (TTIP) project that, at present, can be described as rather dying than thriving. It is worth highlighting that even before the Donald Trump administration came to power (with its concepts of America First and Away with Dependent Allies), the TTIP initiative ended up in its current state most likely due to sabotage from the European side.

Considering Donald Trump’s perspective on the standing and role of the United States in the modern world, the only task remaining was to bury the TPP (and NAFTA along with it). This, seemingly, is what happened, when in January 2017, the President of the global power issued a memorandum to withdraw the nation from all the agreements reached in the TPP negotiations. Twelve other members........

© New Eastern Outlook