Thursday, 8 March 2018

Eleven Asia-Pacific trade deal signed by 11 nations



Eleven Asia-Pacific countries have just signed the trade pact formerly known as the Trans-Pacific Partnership.

 
Although the US pulled out last year, the deal was salvaged by the remaining members, who signed it at a ceremony in the Chilean city of Santiago.


Chilean foreign minister Heraldo Munoz said the agreement was a strong signal "against protectionist pressures, in favour of a world open to trade".


The deal covers a market of nearly 500 million people, despite the US pullout.


In the absence of the US, it has been renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Extraneous adjectives aside, its supporters say it's hugely significant, and could be a model for future trade deals.




BBC     News.