Reconfirming Intent to Join CPTPP... Ministry of Commerce Deputy Director "Actively Considering"

Wang Shouwen, Vice Minister of Commerce of China [Photo by EPA Yonhap News]

[Asia Economy Reporter Park Byung-hee] China has reaffirmed its intention to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which is led by the United States' allied countries.

On the 24th (local time), according to online media Pengpai and others, Wang Shouwen, Vice Minister of Commerce of China, stated at a press conference held by the State Council Information Office in Beijing the previous afternoon, "China is actively considering joining the CPTPP."

Vice Minister Wang said, "Free trade agreements play a very important role in China's opening to the outside world," adding, "China will upgrade the free trade agreements it has already concluded and will also expedite the conclusion of new free trade agreements."

China is actively pursuing membership in the CPTPP, which it previously perceived as a containment network against itself, following the successful conclusion of the Regional Comprehensive Economic Partnership (RCEP) in November last year.

Chinese President Xi Jinping stated at the Asia-Pacific Economic Cooperation (APEC) summit in November last year that China is "actively considering" joining the CPTPP. Chinese Premier Li Keqiang also formalized this policy as a government agenda in his government work report at the opening of the National People's Congress in March.

During former President Barack Obama's administration, the United States created the Trans-Pacific Partnership (TPP), the world's largest trade agreement covering the Asia-Pacific region, centered on key allies and partners such as Japan, Australia, and Canada, excluding China. Later, under former President Donald Trump's administration, which shifted to isolationism prioritizing national interests, the U.S. withdrew from the TPP, significantly weakening the status of the CPTPP, which was revised and formed by Japan and other remaining countries. However, the Biden administration, which emphasizes strengthening cooperation with allies, has rejoined the CPTPP, raising expectations that it could actively compete with China for leadership in the global economy once again.