Tokyo: The 12 member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have reached a decision to commence preparatory talks with the Philippines, Indonesia, and the United Arab Emirates. This decision marks a significant step toward launching accession negotiations with these three nations.
According to Philippines News Agency, the decision was finalized during an online ministerial meeting of the CPTPP members, a group that includes Japan. These preparatory talks are the first of their kind for the CPTPP and will cover crucial issues such as compliance with the pact's rules to streamline the process if formal accession negotiations are initiated.
A joint ministerial statement issued in November last year confirmed that the Philippines, Indonesia, and the United Arab Emirates met the principles for accession. These principles include readiness to meet high standards such as tariff elimination, with negotiations expected to begin as early as 2026.
The recent statement also emphasized that any further initiatives, including trade and investment dialogues, will be conducted by consensus of the CPTPP parties. This statement appears to be in response to China, which, despite not being a member, held an event related to the CPTPP in May without prior approval.