All member countries that have ratified the CPTPP will be allowed to vet China’s application.

Bid comes day after U.S., U.K. and Australia announce new defense partnership

China is lobbying the Australian government for its support to join a multilateral regional trade pact.

Taiwan should prioritize entering the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as it could be isolated from two major regional trade blocs if China joins it first, the Chung-Hua Institution for Economic Research (CIER) said in a report published earlier this year.

Both Vietnam and Australia have complementary economies which can support each other for mutual development together, said Australian Minister for Trade, Tourism and Investment Dan Tehan MP of the Foreign Correspondents Association Australia and South Pacific (FCA).

Malaysia is currently on track in ratifying the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), pending a detailed and clear mandate from the Cabinet, said the Ministry of International Trade and Industry (Miti).

Ministers from 11 member countries of the CPTPP agreed to schedule an online meeting on September 1 to discuss the UK application to join the deal.

The UK is planning to complete negotiations to join trade alliance the Trans-Pacific Partnership by the end of next year, Liz Truss has said.

Joining in new-generation agreements like the European Union-Vietnam Free Trade Agreements (EVFTA) and the Comprehensive and Progress Agreement for Trans-Pacific Partnership (CPTPP) has brought great economic benefits to Vietnam, according to the Ministry of Industry and Trade (MoIT).

Peru’s official ratification of the CPTPP is expected to help boost trade between Vietnam and the South American nation.