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June 15, 2018
Government introduces bill to implement the Trans-Pacific Partnership
Canada's Minister of International Trade, Francois-Philippe Champagne, introduced legislation in the House of Commons on Thursday for the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The CPTPP will set a new standard for free trade agreements in the Asia-Pacific region by including robust and enforceable provisions in areas such as labour and the environment.
The full text of the free trade agreement was made public late in February following translation and legal review in the eleven member countries.
The CPTPP will be one of the largest trading blocs in the world. The eleven CPTPP countries represent 495 million people and have a combined GDP of $13.5 trillion.
The Agreement will enter into force 60 days after at least six of the partner countries complete their respective ratification procedures.
The CPTPP includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
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