Ministers from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have welcomed the preliminary peace agreement between the United States and Iran, calling for the immediate restoration of safe passage through the Strait of Hormuz.
The endorsement comes as global markets digest the diplomatic breakthrough, which aims to end hostilities and ease the severe shipping bottlenecks that have disrupted energy flows for months.
The ministers reaffirmed their commitment to expanding the trade pact and strengthening supply chain resilience, framing the US-Iran deal as a critical step toward stabilizing global commerce.
By securing the Strait of Hormuz, the agreement directly addresses one of the most significant geopolitical risks to international trade, potentially lowering insurance premiums and freight costs for vessels transiting the chokepoint.
This diplomatic development follows a period of intense market volatility driven by fears of prolonged disruption in the Persian Gulf.
German Chancellor Friedrich Merz also publicly congratulated US President Donald Trump on the breakthrough, describing it as a pivotal moment for global stability.