Each signatory to the CPTPP has concluded existing bilateral and multilateral agreements with some parties, but not all others. As the CPTPP opens up new markets and, in some cases, imposes new rules for the national processing of data, intellectual property, labour rights and more, each party must take into account a unique set of economic and political circumstances. A more precise look at Australia, Canada, Japan and Mexico follows. Despite the U.S. withdrawal and the slight changes to the TPP text that followed, the CPTPP is a “game changer” by defining institutional and rules-based reforms, setting new standards for future free trade agreements (FTAs), and incentivizing the consolidation and reorganization of Asia-Pacific supply chains. Many years ago, in February 2015, when the Trans-Pacific Partnership was signed, President Obama said that agreements like this allowed us to “write the rules of road traffic in the twenty-first century.” But the story took another turn when President Trump withdrew from the TPP in his early days in office (which ultimately took place anyway without the US and became the CPTPP). 1 The Government of Brunei amends the intellectual property and labour rules to fulfil its CPTPP obligations. However, the government has not yet set a timetable for ratification and the final decision on ratification seems to rest with the Sultan. 2 The Government of Brunei amends the intellectual property and labour rules in order to fulfil its CPTPP obligations. However, the government has not yet set a timetable for ratification and the final decision on ratification seems to rest with the Sultan. 3 Following Prime Minister Mahathir Mohamad`s announcement in November 2018 of the continuation of the review of the economic and social impact of the CPTPP on Malaysia, the domestic policy debate intensified. In addition, the Malaysian government still needs to amend 18 national rules on issues such as intellectual property, labour and government procurement in order to adapt the country`s regulatory environment to the commitments made under the CPTPP. As a result, Malaysia`s likely ratification schedule could extend into 2019 or beyond, due to challenges for Parliament in changing the legislation.
4 Domestic policy challenges may delay Peru`s ratification schedule for the CPTPP. The CPTPP does not require congressional approval by a legislative resolution, as there is no need to amend existing normative laws or agreements to adapt the CPTPP to national law. . . .