SBF welcomes the conclusion of negotiations on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership24 January 2018 [Singapore] - After more than two months since the announcement of its substantive conclusion in Da Nang in November 2017, the terms of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) for the 11 parties (i.e. Singapore, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru and Vietnam) have been finalised yesterday in Tokyo during a meeting of the Senior Officials from these countries.
“I am very pleased to see the conclusion of the CPTPP in a speedy manner. I was not expecting the Agreement to be concluded, with the original TPP’s ambition and substance significantly preserved, as early as this month with a target for signing in March. The business community applauds this positive move by the 11 countries, as the CPTPP provides a huge opportunity for companies in the CPTPP region to have greater and easier access to a market of 500 million people for both goods and services. We call on Singapore businesses to stand ready to take advantage of the benefits of this high quality trade agreement once it is implemented. In collaboration with our Government, SBF reiterates its commitment to provide the necessary support to our business community to help them prepare for the implementation of the Agreement,” said Mr Ho Meng Kit, CEO of SBF.
The press release of the Ministry of Trade and Industry (MTI) Singapore is available here.