Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP): Trade in Goods - “An update on current progress"
This chapter contains four sections: a) Definition and Scope; b) National Treatment and Market Access for Goods; c) Agriculture and d) Tariff-Rate Quota Administration. The ultimate outcome is to achieve a high level of trade liberalisation and market access among the CPTPP parties.
Key salient points
Each CPTPP parties shall commit to reduce or eliminate its customs duties on originating goods of other Parties according to Schedule in Annex 2-D (Tariff Commitments).
For agriculture, Section C covers agricultural export subsidies, export credits, export credit guarantees or insurance programmes, agricultural export state trading enterprises, export restrictions or restriction, committee on agricultural trade, agricultural safeguards and trade of products of modern biotechnology.
For tariff rate quota administration, Section D indicates that the parties shall publish all information such as size of quotas, eligibility requirements, or application procedures to the public.