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China has officially asked to join an Asia-Pacific free trade group that originally aimed to counter Beijing’s regional influence.
Chinese Trade Minister Wang Wentao announced that he had submitted China’s request to join the Comprehensive and Progressive Agreement on Trans-Pacific Partnership (CPTPP) in a letter to New Zealand’s Trade and Growth Minister of exports, which acts as the depositary of the CPTPP.
The World time called it “historic” and said that China’s bid to join the trade group “consolidates the country’s leadership in world trade” and leaves the United States “increasingly isolated.”
The CPTPP was originally promoted by ex-President Barack Obama and was signed by 11 countries including Australia, Canada, Chile, Japan and New Zealand in 2018. Prior to that, the group was known as the name of Trans-Pacific Partnership (TPP) and “considered as an important economic counterweight to the regional influence of China”, Reuters reported.
In 2017, then-US President Donald Trump withdrew from the group. Joe Biden has yet to join the free trade group.
At the same time, the statement said the two ministers held a teleconference to discuss relevant follow-up work after China’s official request.
Local Chinese media called the move “another giant leap” after the signing of the Regional Comprehensive Economic Partnership (RCEP).
China’s request to join the CPTPP comes a day after the US, UK and Australia formed a new defense-focused group in the Indo-Pacific known as the AUKUS, intended to counter Beijing.
Earlier this year, China’s Ministry of Commerce said the country was “actively conducting a study on issues related to membership in the CPTPP.”
Gao Lingyun, an expert from the Chinese Academy of Social Sciences in Beijing told the World time that “this decision is an important development for China’s participation in concluding international economic and trade agreements” and added that it “tends to put China in a better position to decide on future trade rules”.
The agreement is also expected to “complement existing national efforts to deepen reform and opening up,” Gao said.
If China joins the group – this already includes Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, Peru, Singapore and Vietnam; Britain is negotiating to join the group – this would quadruple the total population within the group to some two billion people, Associated Press reported.
Song Wei, a researcher at the Chinese Academy of International Trade and Economic Cooperation, a think tank under the Ministry of Commerce, told the World time that the filing of the request is indicative of: “China’s steadfast position on opening up world trade despite the rise in global trade protectionism which is fueled by the long tail of Covid-19”.
Ms. Song also noted that the trade agreement is “aimed at consolidating China’s role as a contributor to regional and global trade integration” and it is also hoped that its progress can “boost China-US cooperation.”
Former Acting Assistant U.S. Trade Representative Wendy Cutler was cited by Nikkei saying, “China’s candidacy to join the CPTPP is one more data point on why Washington needs to step up its economic engagement in the Indo-Pacific, including on trade.”
In the meantime, Thailand has also expressed interest in joining CPTPP.
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