Pacific Trade Agreement

The Pacific Trade Agreement, often referred to as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), is a trade deal among countries bordering the Pacific Ocean. It aims to reduce barriers like tariffs and quotas, making it easier for member nations to buy and sell goods and services with each other. The agreement promotes economic growth, encourages investment, and sets common standards to ensure fair trade practices. By fostering closer economic ties, it helps member countries access larger markets, boost exports, and create jobs, all while maintaining rules that support sustainable and fair trade.