China applies to join Pacific trade pact to boost economic clout

China applies to join Pacific trade pact to boost economic clout
# 17 September 2021 06:21 (UTC +04:00)

China has filed an application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the commerce ministry said, as the world's second-biggest economy looks to bolster its clout in trade, APA reports quoting Reuters.

Commerce Minister Wang Wentao submitted China's application to join the free trade agreement in a letter to New Zealand's trade minister, Damien O'Connor, the Chinese ministry said in a statement late on Thursday.

The CPTPP was signed by 11 countries including Australia, Canada, Chile, Japan and New Zealand in 2018.

Before that, it was known as the Trans-Pacific Partnership (TPP) and seen as an important economic counterweight to China's regional influence.

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