China wants to join CPTPP

“China’s accession to the CPTPP will bring great economic benefits,” the Chinese embassy in Canberra wrote in a submission to an Australian parliamentary inquiry into the expansion of the CPTPP.

“China is committed to building a community with a common future for mankind and is willing to work together with all other parties to promote globalization and regional economic integration,” the submission reads.

This year, according to ReutersChina has approached Australia, Malaysia, New Zealand and possibly other countries to negotiate the details of the CPTPP.

The US withdrew from the treaty in 2018. It was originally created by former President Barack Obama as an economic bloc to balance Beijing’s growing power.

China wants to join the CPTPP - Photo 1.

China is lobbying the Australian government to join the CPTPP. Photo: Reuters

Australia and China’s relations deteriorated after Canberra called for an independent investigation into the origins of Covid-19. China froze relations between the ministers of the two countries and implemented a series of trade retaliation measures against Australian goods including coal, barley and wine.

These are not mentioned in the Chinese embassy’s submission to the Australian government. Beijing argues that it should be allowed to join the CPTPP due to initiatives to increase imports, improve market access for foreign investment and strengthen protection of intellectual property rights.

According to the submission, the Chinese and Australian economies greatly complement each other with great potential for cooperation. Specifically, the China-Australia free trade agreement, which came into force in December 2015, marked “an important milestone for our economic and trade cooperation, creating favorable conditions for doing business.” deepen, expand and improve the bilateral economic relationship”.

It is known that the UK is also campaigning to join the CPTPP and officially made an offer earlier this year.

Bao Hanh

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