MELBOURNE will later this week host the largest meeting of trade ministers and representatives in more than a decade, as the 12 member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) gather for the ninth commission meeting.
Australia is the 2025 CPTPP chair.
The agreement cuts tariffs, opens markets and seeks to make trade simpler, fairer, and more predictable.
CPTPP Parties are said to be “committed to enhancing trade and investment opportunities, and ensuring the agreement remains modern, effective, and responsive to global challenges”.
Australian trade minister Don Farrell is expected to lead discussions on upgrading and enhancing CPTPP, efforts to expand the membership and practical steps to ensure it continues to deliver high standard outcomes.
He is to be joined by assistant treasurer Daniel Mulino and assistant trade minister Matt Thistlethwaite.
CPTPP Parties are to also hold inaugural Trade and Investment Dialogues with the European Union and the Association of Southeast Asian Nations (ASEAN).
The European Union trade commissioner Maroš Šefčovič is to attend the CPTPP-EU Trade and Investment Dialogue.
Senator Farrell is to meet with Commissioner Šefčovič to advance negotiations on an Australia-EU free trade agreement.
“Australia is a trading nation and a strong advocate of free and fair trade. Trade supports Australian businesses, jobs, higher incomes, and our economy,” Senator Farrell said.
“Australia is committed to strengthening open, stable, rules-based trade in the Indo-Pacific region and beyond.
“The CPTPP is a gold-standard trade agreement creating opportunities for Australian businesses to diversify and grow.”
The meeting to promote free trade might be seen as timely in an environment when the US under the Trump regime has imposed tariffs upon goods imported from much of the world.