Timing of CPTPP Accession Decision Delayed by One Week to Early Next Month... "Inter-Ministerial Coordination Remains a Key Issue"

[Asia Economy Reporter Joo Sang-don] The final decision on South Korea's comprehensive and progressive Trans-Pacific Partnership (CPTPP) membership has been delayed by about a week to early next month.

According to government officials on the 22nd, the Ministerial Meeting on External Economic Affairs, originally scheduled for the 25th with CPTPP membership as a key agenda item, has been postponed to early November.

The CPTPP is a coalition launched on December 30, 2018, by 11 countries including Japan, Australia, and Mexico after the United States withdrew from the original Trans-Pacific Partnership (TPP) in 2017.

A government official explained the reason for the postponement, saying, "There are still issues that need to be coordinated among ministries, and considering the time needed to update the results of bilateral talks held at the G20 Finance Ministers' Meeting in Washington DC, we judged that holding the meeting on the 25th would be too rushed."

The government has essentially set its direction toward joining the CPTPP. The Ministry of Trade, Industry and Energy has been holding meetings with domestic experts and industry representatives to gather various opinions on membership. On the afternoon of the previous day, Yeo Han-gu, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, held a video conference inviting trade experts from key CPTPP member countries such as Singapore and Australia, as well as related countries including the United Kingdom and the United States.