The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) also known as the CHSP Agreement is a free trade agreement signed by 11 countries including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The agreement was signed on March 8, 2018 and came into effect on December 30, 2018.

The CPTPP is a successor agreement to the original Trans-Pacific Partnership (TPP) which was signed by 12 countries including the United States. However, the United States withdrew from the agreement in 2017, signalling a shift in its trade policy.

The CPTPP agreement aims to reduce tariffs and non-tariff barriers to trade among member countries, promote economic growth, and establish a framework for future trade negotiations. The agreement covers a range of sectors including agriculture, manufacturing, services, and intellectual property.

One of the key provisions of the CPTPP agreement is the Investor State Dispute Settlement (ISDS) mechanism. This mechanism allows foreign investors to sue governments for alleged discriminatory treatment or expropriation of investments. However, there have been concerns about the impact of ISDS on the ability of governments to regulate in the public interest.

Another important feature of the CPTPP agreement is its emphasis on labor and environmental standards. The agreement includes provisions that require member countries to uphold fundamental labor standards and to effectively enforce their environmental laws. This is intended to ensure that the benefits of trade are shared more evenly and that trade does not come at the expense of workers or the environment.

In addition to its economic and social objectives, the CPTPP agreement is also seen as a strategic move to counterbalance China`s growing influence in the region. Several of the member countries have had strained relations with China in recent years, and the CPTPP is seen as a way to strengthen ties with other like-minded countries.

Overall, the CPTPP agreement represents a significant development in the global trade landscape, particularly in light of the United States` withdrawal from the original TPP. While there are concerns about certain provisions of the agreement, it is widely viewed as a positive step towards greater economic integration and cooperation among member countries.