The new Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP):
Why TFO Canada should be your sourcing partner for the emerging and developing countries on the agreement
As businesses cautiously wait on the conclusion of the NAFTA renegotiations, hope for an ease in the threat of protectionism and wish for the possible subsiding of impending trade wars, the recently signed 11 countries CPTPP agreement seems to be a light at the end of this dampened trade tunnel. This is a victory for Canada’s progressive trade agenda and for the remaining countries, who continued negotiations for the Trans Pacific Partnership after the United States decided to not participate. The CPTPP promises tariff reductions and eliminations, new rules of origin for specific sectors, liberalization of trade in the service sector and investments, amongst other concessions.
In the context of TFO Canada, there are four developing countries that are part of this recently newly signed FTA, we can help you navigate sourcing products and services from these markets. The countries are: Mexico, Peru, Malaysia and Vietnam, and while Canada already had bilateral FTAs with the first two countries, the other two has had most favoured nation tariff treatment status.