South Korea to apply for CPTPP free trade pact membership
The Japan Times: 13th of December 2021
South Korea is the latest country to formally apply to join the CPTPP: The Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The CPTPP is a large trading bloc containing 11 members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. China, Taiwan and the UK have also applied to join the bloc. For South Korea to be accepted, it needs 100% approval from all 11 states parties. This could prove difficult with a Japanese government source expressing caution over the bid. Read more to find out why South Korea’s application may struggle.