The Philippines is nearing its decision whether to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, with trade officials currently awaiting the results of a commissioned study to determine its economic impact on the country.
The remaining countries from the TPP later formed the CPTPP, with eleven countries comprising of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam continuing the push for the mega trade deal.
The Philippines previously wanted to join the TPP, with the Department of Finance even saying back in 2016 under the Aquino administration that the Philippines stood to gain from becoming a member of the trade pact. The Philippines has recently ratified the Regional Comprehensive Economic Partnership Agreement , with a presidential issuance set to operationalize on June 2 the country’s commitment to what is touted as the world’s biggest trade agreement to date.
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