Canada Hosts Meeting of Comprehensive and Progressive Agreement for Trans-Pacific Partnership Commission, Advancing Key Priorities
Ottawa, Ontario – 2024-11-30 – Canada hosted a meeting of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Commission (CPTPP), bringing together Ministers from the 11 member countries to advance key priorities and strengthen their collective commitment to free, open, and rules-based trade.
The meeting, taking place from November 29th to 30th, 2024, provided a platform for the CPTPP Commission to discuss and collaborate on a wide range of issues, including:
- Trade and Economic Growth: Members exchanged views on the economic benefits of the CPTPP and explored ways to further enhance trade and investment within the region. Discussions focused on promoting innovation, removing barriers to trade, and supporting small and medium-sized enterprises (SMEs).
- Sustainability and Environment: The Commission reiterated its commitment to promoting sustainable and environmentally friendly trade. Members discussed ways to collaborate on addressing climate change, reducing pollution, and conserving biodiversity.
- Digital Trade and E-Commerce: The meeting highlighted the importance of digital trade and e-commerce in driving economic growth and fostering innovation. Members explored opportunities for cooperation in areas such as data protection, digital infrastructure, and cross-border e-commerce.
- Inclusive and Equitable Trade: The Commission emphasized the importance of ensuring that the benefits of trade are shared by all members of society. Members discussed measures to promote inclusive trade, support marginalized communities, and provide opportunities for women and indigenous peoples.
- Cooperation on Global Issues: The CPTPP Commission recognized the need for joint action to address global economic challenges. Members committed to working together on issues such as supply chain resilience, global economic recovery, and international trade negotiations.
During the meeting, Canadian Minister of International Trade, Export Promotion, Small Business and Economic Development, Mary Ng, highlighted Canada’s commitment to the CPTPP and its role in promoting economic growth and prosperity in the region.
“The CPTPP is a vital tool for our economic recovery and future growth,” said Minister Ng. “This meeting provides an important opportunity to strengthen our partnership and work together to address the challenges and opportunities facing our economies.”
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement between Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The agreement entered into force on December 30, 2018, and covers a wide range of trade-related issues, including trade in goods, services, investment, and intellectual property.
The CPTPP is one of the largest free trade areas in the world, with a combined GDP of over $13.5 trillion and a population of over 500 million people. The agreement has been hailed as a significant step towards promoting regional economic integration and strengthening the global trading system.
The meeting of the CPTPP Commission is a sign of the member countries’ commitment to advancing free, open, and rules-based trade. The discussions held during the meeting will help to shape the future of the CPTPP and contribute to the region’s economic prosperity.
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