Xu Qian
Asian Journal of WTO Law and Health Policy, Volume 15.2
Published in October 2020
Abstract: Formerly known as the Trans-Pacific Partnership (hereinafter
“TPP”), the Comprehensive and Progressive Agreement for TransPacific Partnership (hereinafter “CPTPP”) is a multilateral Free
Trade Agreement (hereinafter “FTA”) signed by eleven Asia-Pacific
Countries on March 8, 2018. The aim of the CPTPP is to boost
international trade and investment in the Asia-Pacific region. Prior
to the entry into force of the CPTPP, the U.S. withdrew from the TPP
agreement in early 2017. In spite of this, the CPTPP nevertheless
portrays a critical advance toward deeper trade and investment
linkages in the Asia-Pacific region and also projects new and
exclusive features for regional trade. This article provides a detailed
and comprehensive analysis of the new pact and demonstrates how
the CPTPP codifies many changes and clarifications made to
investment law over the last years. Importantly, the normative quality
and geographic scope of the CPTPP places the agreement amongst
the most detailed and important investment treaties. In fact, the
CPTPP may be read as a strengthening (or a de facto renegotiation)
of North American Free Trade Agreement (hereinafter “NAFTA”)
and many other agreements such as the 2010 ASEAN-Australia-New
Zealand (AANZ) FTA. Last but not least, the TPP truly displays a
systemic importance because it has the potential to become a multilateral treaty as the membership is open to new members
willing to sign up to its terms.
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