2 May 2023 11:48

Ukraine puts together delegation for talks on joining Trans-Pacific Partnership

MOSCOW. May 2 (Interfax) - Ukraine has put together a delegation for negotiations on joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP, known also as TPP11), Ukrainian media reported with reference to the Economy Ministry press service.

First Deputy Prime Minister and Economy Minister Yulia Sviridenko has been appointed to head the delegation.

"The Economy Ministry expects accession to the Agreement for Trans-Pacific Partnership in early 2024. At the same time, there is a possibility for joining the Agreement as early as this year," Sviridenko said.

The agreement "would enable Ukraine to liberalize non-tariff restrictions in trading in goods and services with the region's countries and open access to new markets for it," she said.

"Additionally, this would enable us to expand access to direct foreign investments. In particular, the United States, the United Kingdom, and the EU countries are the principal investors in the economies of the Trans-Pacific Partnership countries," Sviridenko said.

"At least ten trade missions in the Pacific region, including in South Africa, Nigeria, Egypt, and Ghana, are expected to be opened," the press service said.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership was concluded in 2018. At present, it has been ratified by ten countries, namely Australia, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The key exports of the CPTPP signatories are electronics, machinery, automobiles, and mineral fuel.