On 11 November 2017, In the margins of the APEC meetings in Da Nang, Vietnam, the TPP ministers of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, agreed to the following statement on the Trans-Pacific Partnership:
- When we last met in Ha Noi, Viet Nam on 21 May 2017, the Ministers of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Viet Nam, reaffirmed the balanced outcome and the strategic and economic significance of the TPP Agreement signed in Auckland on 4 February 2016 (hereinafter referred to as “the TPP”) highlighting its principles and high standards as a way to promote regional economic integration and contribute to the economic growth prospects of its member countries, and create new opportunities for workers, families, farmers, businesses and consumers.
- In May, Ministers tasked officials to engage in a process of assessing options to bring the comprehensive, high quality Agreement into force expeditiously. Over the past several months, officials have worked to reach a balanced outcome that maintains the significant benefits of the TPP.
- Ministers are pleased to announce that they have agreed on the core elements of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Ministers agreed to Annex I and II (attached) which incorporates provisions of the TPP, with the exception of a limited set of provisions which will be suspended. This text also incorporates a list of four specific items for which substantial progress was made but consensus must be achieved prior to signing.
- Ministers 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. Ministers also affirm the right of each Party to preserve, develop, and implement its cultural policies. Ministers consider that the CPTPP reflect the desire of the Parties to implement the TPP outcomes among themselves.
- Ministers confirm that the legal instrument proposed for the CPTPP allows the participants to act decisively in a timely manner to advance their shared objectives. Ministers reaffirm that the CPTPP demonstrates their firm commitment to open markets, to combat protectionism, and to advance regional economic integration.
- Noting Article 6 of the CPTPP, Ministers shared the view that the scope of a review may extend to proposals to amend the CPTPP, to reflect the circumstances concerning the status of the TPP.
- Furthermore, Ministers decided that all the TPP side letters signed among the 11 countries will be maintained in principle, unless the relevant Parties decide otherwise.
- 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.
- Ministers recognize that each country will need to pursue its own domestic processes, including for public consultation, in advance of signature.