Chairman Kobayashi’s Comments on the Entry into Force of CPTPP for Peru

September 21, 2021

I welcome the news that, on September 19, the Republic of Peru became the eighth Party of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The CPTPP is an economic partnership agreement that both promotes the reduction of tariffs and deregulation of investment and services, and establishes rules in a wide range of areas, such as intellectual property, e-commerce, and competition conditions for state-owned companies. As an organization that promotes free trade, the JFTC views the CPTPP as an important framework and expects that the entry of the Republic of Peru will further strengthen the multilateral trading system based on free and fair trade rules.

I would like the Japanese government to continue to show leadership as the CPTPP’s chair country in 2021 by urging countries that have not yet ratified the agreement to complete the necessary internal procedures, encouraging the participation of the United Kingdom and other non-member countries, and persistently lobbying for the return of the United States to the CPTPP.

I also take a positive view of China’s recent expression of its intention to join the CPTPP. However, I recognize that various problems will have to be resolved before it can do so and hope that the Japanese government will engage in sufficient discussions with member countries concerning this matter.