Australia Cannot Publicly Endorse China's Bid To Join Trans-Pacific Trade Bloc - Reports

Sumaira FH Published May 23, 2023 | 08:47 PM

Australia cannot publicly approve China's bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as long as Beijing's trade restrictions against Canberra are in place, the South China Morning Post (SCMP) reported on Tuesday, citing sources

MOSCOW (UrduPoint News / Sputnik - 23rd May, 2023) Australia cannot publicly approve China's bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as long as Beijing's trade restrictions against Canberra are in place, the South China Morning Post (SCMP) reported on Tuesday, citing sources.

China failed to secure public endorsement of its CPTPP bid from Australia during the visit of Australian Trade Minister Don Farrell to China earlier in May, the newspaper reported citing a source that said the Australian government would hardly support Beijing's membership "when trade sanctions were in place."

At the same time, Australia does not oppose China's possible membership in the partnership, though the country should comply with the CPTPP trade standards, SCMP added, citing another source.

The Trans-Pacific Partnership Agreement was originally signed in 2016 between the United States, Canada, Australia, New Zealand, Singapore, Malaysia, Brunei, Vietnam, Japan, Mexico, Chile, and Peru.

As part of the agreement, it was planned to create a free trade zone in the Asia-Pacific region. However, in January 2017, then US President Donald Trump signed a decree withdrawing the US from the agreement, after which the remaining 11 countries formed the CPTPP. China applied for the membership in the CPTPP in 2021.

In May 2020, China imposed an 80% tariff on Australian barley exports, thus practically closing its market. The move was in reaction to Australia's support of the United States' call to conduct an independent investigation into the origins of COVID-19, implying Beijing was responsible for the virus.

On February 6, Chinese Commerce Minister Wang Wentao spoke with Farrell during the first bilateral meeting since 2019, which was widely interpreted as a sign both sides wanted to mend ties. On March 15, China lifted the ban on Australian coal imposed at the end of 2020. On April 11, Canberra suspended its suit to the World Trade Organization against Beijing after an agreement on Australian barley was reached.