Saturday, January 23, 2021

Justin Trudeau, Shinzo Abe Discuss Ratification of the Trans-Pacific Partnership Agreement (TTP)

Canadian PM Justin Trudeau and his Japanese counterpart Shinzo Abe, discussed the ratification of the Trans-Pacific Partnership Agreement (TTP) and the upcoming G-20 summit in Papua New Guinea. This was reported on Sunday by the press service of the head of the Canadian government on the conclusion of APEC summit.

“The leaders discussed ratification of the Comprehensive and Progressive Trans-Pacific Partnership Agreement. Canada and Japan are among the first six countries that ratified it,” the press service said. “The Prime Ministers also talked about ways to strengthen the international trading system.

Trudeau and Abe during the meeting also touched on the topic of security on the Korean Peninsula, discussed the upcoming G20 summit in Buenos Aires and environmental issues.

The initial TTP agreement after seven years of negotiations was concluded on February 6, 2016, in New Zealand. The document was signed by representatives of 12 states – Australia, Brunei, Vietnam, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore, USA, Chile and Japan. However, US President Donald Trump immediately after taking office announced the withdrawal of Washington from the TTP.

As a result, the remaining 11 states in May signed a new document on the creation of a free trade zone, called the Comprehensive and Progressive Trans-Pacific Partnership Agreement. To date, it has already been ratified by Vietnam, Japan, Mexico, Singapore, New Zealand and Canada.

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