China announced on Friday that it has officially requested to join the Progressive and Comprehensive Agreement for the Trans-Pacific Partnership (CPTPP).
Through a statement published on its website, the Ministry of Commerce of China detailed that the minister of the branch, Wang Wentao, on Thursday sent a letter with the formal request to his New Zealand counterpart, Damien O’Connor, since Wellington is the depositary of this commercial agreement.
“The ministers of both countries spoke by teleconference to communicate about the follow-up work on China’s formal request. “, indicated the short text.
On November 20, during a summit of leaders of the Asia-Pacific Economic Cooperation Forum (APEC), the Chinese president, Xi JinpingHe stated that his country would “actively” consider joining the pact.
The TPP-11 (also known by its acronym TPP11), which entered into force in December 2018, encompasses 11 countries -among them, the third world economy, Japan, as well as Mexico, Peru, Chile, Australia and New Zealand– and accounts for around 13 percent of the volume of global trade.
It should be noted that Chile’s participation in the agreement has yet to be ratified in Congress.
The treaty is an updated version of the Trans-Pacific Partnership (TPP), signed on February 4, 2016, but which entered into crisis as a result of the decision of the former US president, Donald Trump, to withdraw his country from that initiative in 2017.
The original TPP was one of the targets chosen by Trump during the electoral campaign that led him to the Presidency of the United States to attack international free trade agreements and insist on the need to launch new negotiations to renew the pacts to which Washington had committed.
Sources cited by the state newspaper Global Times interpreted that, with the application for membership, Beijing “aims to shore up China’s leadership in world trade, while increasing pressure on the United States, which has not yet been reattached to the revised version of the TPP. “
The announcement of China’s application to be part of TPP-11 comes a day after Beijing will accuse the United States, Australia and the United Kingdom of “undermine regional peace and stability“after signing the aforementioned countries the pact known as’AUKUS‘, which seeks to strengthen cooperation in advanced defense technologies, such as artificial intelligence, underwater and surveillance systems.