July 19, 2018

SINGAPORE -- Singapore has ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), becoming the third nation to do so after Mexico and Japan.

The Ministry of Trade and Industry (MTI) said in a statement on Thursday (July 19) that the CPTPP is a high-quality agreement that will reduce market barriers as well as foster trade in a combined market of 500 million people with a gross domestic product of US$10 trillion (S$13 trillion).

The historic trade deal establishes rules in new areas, such as e-commerce, and will enter into force 60 days after six of the 11 signatories ratify the agreement.

Read more:

https://www.straitstimes.com/singapore/singapore-ratifies-cptpp-trade-deal-to-become-3rd-nation-to-do-so-after-mexico-and-japan