The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) evolved out of the long-negotiated Trans-Pacific Partnership Agreement (TPP). Entered into force on 30 December 2018, the CPTPP constitutes one of the world's largest regional free trade and investment agreements, encompassing a combined GDP of US$10 trillion – almost 13.5 per cent of global GDP – 495 million people and over 15 per cent of global trade.2
The CPTPP's investment chapter contains a number of interesting provisions that clarify the scope of substantive investment protections and address some of the concerns about the current investor–state dispute settlement (ISDS) regime. This commentary will focus on the most relevant provisions of the CPTPP's investment chapter and explain why it qualifies as a modern investment agreement.
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