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Toward CPTPP 2.0 (CSIS)

2021-10-18 91

Toward CPTPP 2.0

 

 

 

 

October 15, 2021

Kati Suominen

 

 

 

This series has sought to provide early insight into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) members’ trade and investment flows after the agreement was signed. It has also sought to explore through business surveys and econometric work how the CPTPP may have impacted those flows. This series has been particularly interested in the impacts of the CPTPP’s perhaps most groundbreaking aspectits e-commerce chapterand sought to shed light on an unexplored question: “Do e-commerce provisions add value in international trade?” The main findings are as follows:

 

Trade in the CPTPP region has largely paralleled the members’ trade flows with the rest of the world. The main beneficiary appears to be Vietnamat least in the sense that after it ratified the CPTPP, Vietnam has notably expanded its trade in goods, and its inbound investment has been solid, despite the Covid-19 pandemic. This can be a positive signal to other Southeast Asian countries that are considering CPTPP membership, such as the Philippines, Indonesia, and Thailand. Japan and Singapore have led the region’s trade in digitally deliverable services, also a key sector for potential CPTPP members and services export superstars such as the Philippines, Korea, and the United Kingdom.

 

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