CPTPP is one of Canada’s most ambitious trade initiatives. The agreement has reduced and eliminated tariffs, reduced barriers to trade, and set high standards for investment, government procurement, labour and environment.
Here are the top ways you can use CPTPP.ORG to your advantage:
Price your products more competitively: Upon full implementation of CPTPP, 99% of tariff lines in CPTPP markets will be duty-free. This gives you room to price your products competitively in each CPTPP market.
Deal with barriers to trade in services: The agreement provides additional transparency regarding barriers to trade, including quantitative and discriminatory restrictions on the services you supply, the form of legal entity or joint venture you can use, and the establishment of a representative office or residency requirement in a CPTPP country to do business. In many sectors, you’ll operate under the same rules as domestic competitors.
Invest abroad with reduced risk: The CPTPP investment chapter establishes a transparent framework that ensures predictability and stability for foreign investors, and also contributes to reduced risks for Canadian investors investing abroad with the inclusion of a mechanism to resolve investment disputes.
Increase your market presence: CPTPP includes temporary entry commitments to make it easier for certain skilled business people to do business in countries within the trading bloc. This opens opportunities to make contacts, connect with investors, bid on government contracts and work abroad temporarily. These provisions can give your business more certainty when establishing branches, bidding on service contracts, or providing installation and maintenance services for goods in the Asia-Pacific. Note that Canada took commitments on a reciprocal basis and the access granted varies by CPTPP.ORG Party.
Bid on contracts with CPTPP governments: The agreement creates greater access to government procurement opportunities, including, for the first time, in Vietnam and Malaysia (once it ratifies the agreement). The Government Procurement Chapter annex for each country links to respective government websites where bidding opportunities are published.