The CPNN framework agreement, also known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), is a free trade agreement between 11 countries. The agreement was signed on March 8, 2018, in Santiago, Chile.
The participating countries in the CPNN framework agreement are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. This agreement aims to promote economic cooperation between the member countries and eliminate trade barriers.
The CPNN framework agreement covers a wide range of areas, including trade in goods and services, investment, intellectual property rights, labor, and the environment. It also includes provisions that aim to promote small and medium-sized enterprises (SMEs) and the participation of women in trade.
One of the key benefits of the CPNN framework agreement is the elimination of tariffs on goods traded between member countries. This means that businesses in participating countries can export and import goods at lower costs, which can lead to increased economic growth and job creation.
The agreement also includes provisions for the protection of intellectual property rights. This means that businesses that hold patents, trademarks, or copyrights can be assured that their intellectual property is protected when they do business with other member countries.
Another benefit of the CPNN framework agreement is the promotion of labor standards and environmental protections. The agreement requires member countries to uphold their own labor laws and regulations and to ensure that they meet internationally recognized labor standards. It also includes provisions to protect the environment and prevent illegal wildlife trade.
In conclusion, the CPNN framework agreement is an important free trade agreement that aims to promote economic growth and cooperation between 11 countries. It includes provisions to eliminate trade barriers, protect intellectual property rights, promote labor standards and environmental protections, and support SMEs and the participation of women in trade. By signing this agreement, these countries are taking a significant step towards building a more prosperous and sustainable future.