Promoting Free Trade in Asia-Pacific – CPTPP as an Answer to Trump’s Protectionism
Promoting Free Trade in Asia-Pacific – CPTPP as an Answer to Trump’s Protectionism

Summary/Abstract: Dynamic changes occurring in the structure of world economy are reflected in the activities of particular countries which, owing to the multilateral negotiations stalemate, have been searching for alternative opportunities to access other markets. The analysis of the transformations which have taken place clearly indicates that new trends in world trade have emerged, which is manifested, among other things, by concluding new RTAs, among which the mega-regional trade blocs (MRTAs) are of paramount importance to world economy. This certainly included the TPP, which had been subject to negotiations by 12 countries at various levels of economic development. As a result of the increasingly protectionist measures taken by President Trump, the U.S., which had been a key player of the TPP, withdrew from the agreement. However, taking into account the significance of the TPP, both for its individual members, as well as world economy, the remaining 11 members decided to reactivate the agreement without its key partner since it is collectively regarded as the driving force for the regional economic integration. Thus, the resumption of the transpacific trade deal under the name Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is pivotal from the perspective of its member states, the Asia-Pacific region, as well as world economy. It is particularly important since the success of the agreement will determine who will be deciding on the rules of trade not only in the region but even in global economy.

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