Signed in 2018, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trade bloc of 11 countries (Australia, Canada, Japan, Mexico, New Zealand, Singapore, Vietnam, Brunei Darussalam, Chile, Malaysia and Peru ) and is an export market of 500 million consumers worth nearly $14 trillion. In October 2020, the Minister for Trade, Tourism and Investment, Senator the Hon Simon Birmingham asked the Joint Standing Committee on Foreign Affairs, Defence and Trade - Trade Sub-committee to inquire into expansion of the CPTPP to include new members.
Freight & Trade Alliance (FTA) and Customs and Global Trade (CGT) Law were invited to make a submission to the inquiry and last Friday 16 April 2021 lodged a joint formal submission.
Having regard to the Inquiry's terms of reference, our submission addressed: - Australia's trade liberalisation agenda
- CPTPP as a vehicle to facilitate trade
- Existing CPTPP members and commitments
- CPTPP ease of use
- Greater likelihood of qualifying under CPTPP
- Strategic considerations
- Particular countries for consideration
It is evident that measures to facilitate trade are beneficial for Australian manufacturers, importers, consumers and logistics professionals and we see the CPTPP as an important mechanism for advancing Australia's international trade facilitation agenda.
The FTA / CGT formal submission is available HERE |
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