Asia-Pacific Agreement strengthens trade relations

The Asia-Pacific Free Trade Agreement (Comprehensive and Progressive Agreement for the Transpacific Partnership), originally called the Transpacific Economic Cooperation Agreement (TPP), aims to strengthen trade relations between the two regions by facilitating access to markets, movement of labor, and government procurement contracts.

 

Fifteen countries have signed this agreement: Australia, Brunei, Cambodia, China, Indonesia, Japan, Republic of Korea, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, Thailand, and Vietnam.

 

With this agreement comes a new initiative aimed at global trade: the Regional Comprehensive Economic Partnership. Coming into force on January 1, 2022, this partnership will become the largest trade bloc in the world by economic size, according to the United Nations Conference on Trade and Development. 

 

The presence of Market Access in this region of the globe has more than 16 years. The company’s first projects, in 2005, were implemented in China and Japan, and over the years it has implemented projects in Singapore, Australia, South Korea, among others. Contact us to know how we can support the internationalization of your business!

 

Sources:

https://www.developmentaid.org/#!/news-stream/post/128182/global-trade-asia-pacific-partnership 

https://expresso.pt/internacional/2021-09-17-China-solicita-adesao-a-acordo-de-livre-comercio-da-Asia-Pacifico-cd7dc6fc

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