Trans-Pacific trade bloc agree to roll out food, medicine supplies amid pandemic

06.08.2020 - Davydova Maria
Trans-Pacific trade bloc agree to roll out food, medicine supplies amid pandemic

Ministers from a trans-Pacific trade bloc in a joint statement have pledged to roll out food and medicine supplies amid the COVID-19 pandemic in an attempt to cushion its further blow on Wednesday.

In the virtual meeting, which was hosted by Mexico, the 11 members expressed to counter protectionism and support for modernizing the World Trade Organization (WTO).

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), comprises of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

The pandemic has exacerbated a trend towards protectionism on the global stage, with a number of European countries taking steps to favor domestic investments and ongoing saber-rattling between the United States and China.

The joint statement, issued by the Mexican economy ministry, said that the opening and connecting of supply chains would play “an instrumental role in avoiding food shortages and ensuring global food security.”

The members pledged to “facilitate the flow of essential goods and services during the pandemic, including medical supplies and equipment.”

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?