On 8 March 2018, the CPTPP was signed by Ministers and representatives from Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The CPTPP entered into force for Australia on 30 December 2018. The United Kingdom formally joined CPTPP on 15 December 2024.
The CPTPP contains chapters typically found in a free trade agreement relating to the removal of tariff barriers, rules of origin and non-tariff barriers, access for business persons, investment, and intellectual property. However, CPTPP also went beyond this practice to include new commitments and ambitious rules, including on government procurement, electronic commerce, labour and environmental standards, competition with state-owned enterprises, regulatory coherence, transparency and anti-corruption, and small and medium-sized enterprises.
The Post-Implementation Review (PIR) was completed to assess whether the CPTPP remains appropriate and how effective and efficient it has been in meeting its objectives. The PIR concluded that the CPTPP has met its objective of expanding economic opportunities with CPTPP members for Australian businesses and creating greater choice for Australian consumers in the five years after entry into force of the Agreement. The Department of Foreign Affairs and Trade (DFAT) conducted this PIR in January 2025, in accordance with the Australian Government's Guide to Regulation.
Assessment comments
Since 1 July 2023, responsibility for Australian Government evaluation processes rests with the Australian Centre for Evaluation. The Australian Centre for Evaluation’s assessment of the PIR is that it contains an adequate level of analysis to inform the decision-maker on the efficiency and effectiveness of the regulation. As per the Government’s Impact Analysis requirements, publication is required on the Department of the Prime Minister and Cabinet’s website.