President Lee Jae Myung ordered the government Thursday not to apply for membership to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) this year to allow time for sufficient discussions with farmers and fishermen, his spokesperson said. The government has been reviewing whether to join the major Indo-Pacific trade agreement comprising 12 countries, including Japan, Mexico, Australia, Canada and Vietnam. Together, the member countries accounted for about 15.2 percent of global trade in 2019. The move has faced opposition from farming and fishing industries, however, over concerns larger imports of cheaper agricultural and fishery products could erode their income and production bases. "President Lee Jae Myung ordered that we not apply for CPTPP membership within the year," Kang Yu-jung said in a written press briefing. "He also urged relevant ministries to listen sincerely to the voices of farmers and fishermen and continue to have discussions, rather than setting a deadline." Lee's instruction came after the topic of CPTPP membership was discussed during
Read full article