Trans-Pacific trade bloc says fighting protectionism for post-pandemic revival

Ministers from a trans-Pacific trade bloc have agreed to cooperate to fight protectionism and maintain supply chains amid the coronavirus pandemic, they said in a joint statement published on Wednesday.

Ministers from a trans-Pacific trade bloc have agreed to cooperate to fight protectionism and maintain supply chains amid the coronavirus pandemic, they said in a joint statement published on Wednesday. The 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), comprises Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

In the statement, the members pledged to limit restrictive trade measures and to facilitate the flow of essential goods and services during the pandemic. The bloc represents 495 million consumers and 13.5% of global GDP, according to the Canadian government.