On November 10, 2017, the TransPacific Partnership Agreement (-1) was renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”). Canada made an announcement about the CPTPP and the new name was used. Canada’s announcement was made prior to the release of the Joint Statement.
The CPTPP parties are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The United States withdrew from TPP on January 23, 2017.
More information about the CPTPP is contained in a statement by the Australian Government (which essentially reproduces the Joint Statement and provides PDFs of the Annexes). It appears that the CPTPP is almost complete and only a few issues remain. According to the statement:
- The CPTPP Parties renamed the agreement;
- The CPTPP Parties reaffirmed the balanced outcome and the strategic and economic significance of the TPP Agreement signed in Auckland on 4 February 2016;
- The CPTPP Parties have agreed on the core elements of the CPTPP;
- The CPTPP Parties agreed to Annex I (Outline of the Agreement) and Annex 2 (List of Suspended Provisions);
- The CPTPP incorporates provisions of the TPP, with the exception of a limited set of provisions which will be suspended;
- The CPTPP text also incorporates a list of four specific items for which substantial progress was made but consensus must be achieved prior to signing;
- The CPTPP Parties agreed that all the TPP side letters signed among the 11 countries will be maintained in principle, unless the relevant Parties decide otherwise;
- The CPTPP Parties affirmed the right of each Party to preserve, develop, and implement its cultural policies;
- The CPTPP Parties agree that the CPTPP maintains the high standards, overall balance, and integrity of the TPP while ensuring the commercial and other interests of all participants and preserving our inherent right to regulate, including the flexibility of the Parties to set legislative and regulatory priorities;
- The CPTPP Parties share the view that Article 6 of the CPTPP permits review that may extend to proposals to amend the CPTPP, to reflect the circumstances concerning the status of the TPP;
- The Ministers tasked officials to continue their technical work, including continuing their efforts toward finalising those items for which consensus has not yet been achieved, and legal verification of the English text and translation, to prepare finalised text for signature; and
- The CPTPP Parties may engage in domestic consultation processes with respect to the CPTPP.
Annex 2 sets out (at the end) the four areas still under negotiation:
- State-owned enterprises (Annex IV Malaysia);
- Services and Investment Non-Conforming Measures (Annex II – Brunei Darusasalam – 14 Coal, paragraph 3);
- Dispute Settlement (trade sanctions) – Article 28.20 (Vietnam); and
- Cultural Exception (Canada).
Interestingly, and despite news reports to the contrary, it does not appear that autos is an outstanding issue.