Emerging Asia not turning its back on free trade

Less than a week after the official launch of the 11-country Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) at a ceremony in Chile, other countries are already queuing up to join. Within Asia, Taiwan, Thailand, Korea, the Philippines and Sri Lanka have all recently either expressed an interest in joining or are considering making an application. Unlike traditional free-trade agreements which have concentrated on tariff reductions, the CPTPP also focuses on the elimination of non-tariff barriers and could form a template for future trade deals. The decision to push ahead shows that Asia is not turning its back on free trade even as policy in the US is shifting in a more protectionist direction.