CPTPP countries discuss post-pandemic recovery plan

August 07, 2020 | 09:13

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Economic and trade ministers of signatories to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) met online on August 5 to discuss how best to intensify cooperation and prepare a plan of action to boost post-pandemic economic recovery.

cptpp countries discuss post pandemic recovery plan

Mexico's Economy Secretary Graciela Márquez Colín (Source: AFP/VNA)

Hanoi - Economic and trade ministers of signatories to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) met online on August 5 to discuss how best to intensify cooperation and prepare a plan of action to boost post-pandemic economic recovery.

The third meeting of the CPTPP Commission was held via video conference under the chair of Mexico’s Economy Secretary Graciela Márquez Colín and reported on issues relating to the implementation of the agreement.

The ministers issued a joint statement supporting trade liberalisation as a driving force for economic growth, especially in face of the COVID-19 pandemic. The statement also highlights the importance of maintaining a strong, rules-based multilateral trading system so as to ensure sustainable development.

Participants also agreed on the establishment of an office in charge of developing the digital economy, while calling on Brunei, Malaysia, Peru, and Chile to soon ratify the agreement so it may be implemented fully.

The CPTPP comprises Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Together they have a combined economy of 13.5 trillion USD.

VNA

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