Advertisement
China’s Asia-Pacific trade deal, digital economy pact aspirations backed by New Zealand
- New Zealand on Wednesday backed China’s participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
- It also supported China’s bid to join the Digital Economy Partnership Agreement (DEPA) during Prime Minister Chris Hipkins’ visit
Reading Time:2 minutes
Why you can trust SCMP
New Zealand on Wednesday publicly endorsed China’s participation in both an Asia-Pacific trade agreement and a digital economy pact during Prime Minister Chris Hipkins’ first visit to the country.
Advertisement
China applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in September 2021 and Digital Economy Partnership Agreement (DEPA) in November 2021.
New Zealand “is aware of the high thresholds that participants of CPTPP should conform”, while it also “welcomes China to join the working group of DEPA for in-depth discussions”, said a joint statement released by the state-backed Xinhua News Agency.
CPTPP membership requires approval from all member countries, namely Canada, Mexico, Peru, Chile, New Zealand, Australia, Brunei, Singapore, Malaysia, Vietnam and Japan. The United Kingdom, having applied in June 2021, reached an agreement to join in March and is expected to formally sign the pact this year.
DEPA, which currently covers Chile, New Zealand and Singapore, builds upon the digital or e-commerce chapters of existing free-trade agreements, such as CPTPP, adding commitments to help digital trade and cooperation on advanced technologies.
Advertisement
In May, the Post reported that China had failed to secure a public endorsement from Australia to join CPTPP during a visit to Beijing by Australian trade minister Don Farrell, with Chinese sanctions still in place on some Australian products.
Advertisement