Chile Becomes 10th Nation to Ratify TPP

Politics

Sao Paulo, Dec. 22 (Jiji Press)--The Chilean government on Thursday informed New Zealand, the depository for the Trans-Pacific Partnership agreement, that it has completed ratification procedures for the free trade pact.

The TPP was signed by 11 countries, including Chile, New Zealand, Japan, Australia and Canada, in March 2018. Brunei now remains the only signatory that has yet to complete ratification procedures.

The Chilean parliament approved the TPP in October this year.

Left-wing President Gabriel Boric, who has shown reluctance in promoting free trade, however, pushed for his country's exclusion from the TPP's investor-state dispute resolution mechanisms.

The South American nation's ratification was delayed due to Boric withholding signing off on the trade pact, which was the final procedure in the ratification process, in order to ask other TPP members to sign side letters accepting his request.

[Copyright The Jiji Press, Ltd.]

Jiji Press