On June 5, 2019, Hinrich Foundation Research Fellow Stephen Olson took part in a American Chamber of Commerce in Hong Kong organised event that focused on the impact of CPTPP since its implementation six months ago.

Stephen Olson on CPTPP implementation

The event, titled “Six Months of CPTPP: How APAC trade has been impacted, and what comes next?”,  was co-hosted by the Asia Business Trade Association, Pacific Basin Economic Council and The Canadian Chamber of Commerce in Hong Kong.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trade agreement between 11 countries, namely, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The agreement has been in effect for 5 months after Australia, Canada, Japan, Mexico, New Zealand, and Singapore ratified it.

The speakers discussed CPTPP’s implementation and how companies have responded to the reduction in tariffs across these eleven countries, and the ratification status for the remaining signatories of the CPTPP.

During the discussion, Olson said that if multilateral trade system continues to wobble over the longer-term, the institutional framework provided by CPTPP might be more important than market access provisions.

The panel discussion was moderated by Barrett Bingley, Associate Director for Content Solutions at The Economist Group. The panellists included: 

  • Stephen Olson, Research Fellow at Hinrich Foundation
  • Steven Okun, President of Executive Committee at Asia Business Trade Association
  • Catherine Simmons, Head of Government Affairs Asia Pacific at Citi, Hong Kong

About the author- Pragya Bhatnagar

Hinrich Foundation launches Indonesia Digital Trade Report in Jakarta 2Pragya Bhatnagar is a Research Associate with the Hinrich Foundation where he focuses on International Trade Research. He is a Hinrich Foundation Global Trade Leader Scholar alumnus, earning his Master’s degree in International Journalism, specializing in Business and Financial Journalism, from Hong Kong Baptist University. He received his bachelor’s degree in Economics from Lucknow University, India.