Supply Chain Research

The South Korean government has decided to start the process of joining CPTPP after a near six month review. That could provide a significant counterweight to the ASEAN-led RCEP but will come with significant complexities given it would provide overlap between KORUS and NAFTA (Canada and Mexico) trade deals with America. The Mexican economy may have the most to win from South Korea joining CPTPP. Currently its exports to South Korea are led by commodities, including $2 billion of crude oil in the 12 months to July 31 (50% of the total), whereas exports to the CPTPP are led by autos ($5 b...