Comprehensive and Progressive Agreement for Trans-Pacific Partnership

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trade agreement between 11 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Once fully implemented, the agreement will eliminate 99% of tariff lines, and CPTPP countries will form a trading bloc with 495 million consumers and 13.5% of global GDP. This makes B.C.’s exports more competitive in these countries, creating opportunities for B.C. businesses and driving economic growth. 

The CPTPP is currently in force for the first seven countries who have ratified the agreement: Mexico, Japan, Singapore, New Zealand, Canada, Australia and Vietnam. The aggregate value of B.C. exports to the CPTPP markets in 2020 exceeded $4.2 billion. In 2021, the United Kingdom (U.K.) started formal negotiations to join the CPTPP.

For more information on how the CPTPP can benefit your business, go to our Trade Resources page.