Trans-Pacific Partnership (TPP)

 

The Trans-Pacific Partnership (TPP) is a proposed Trade Agreement between several Pacific Rim Countries concerning a variety of matters of economic policy

Among other things, the TPP seeks to lower Trade Barriers such as tariffs, establish a common framework for Intellectual Property, enforce standards for labour law and environmental law, and establish an investor state dispute settlement mechanism

TPP is an expansion of the Trans-Pacific Strategic Economic Partnership Agreement (TPSEP or P4) which was signed by Brunei,Chile,Singapore and New Zealand in 2006

In 2008, additional countries joined for a broader agreement namely -
Australia,Canada,Japan,Malaysia,Mexico,Peru,USA and Vietnam bringing the total number of participating countries to twelve.

There are twelve countries which are participating in negotiations for the Trans-Pacific partnership. Four of these have already ratified the Trans-Pacific Strategic Economic Partnership Agreement in 2006, while eight more have joined negotiations for the Trans-Pacific Partnership

Country/Region	Status	Date
Brunei	Original Signatory	June 2005
Chile	Original Signatory	June 2005
New Zealand	Original Signatory	June 2005
Singapore	Original Signatory	June 2005
United States	Negotiating	February 2008
Australia	Negotiating	November 2008
Peru	Negotiating	November 2008
Vietnam	Negotiating	November 2008
Malaysia	Negotiating	October 2010
Mexico	Negotiating	October 2012
Canada[17]	Negotiating	October 2012
Japan	Negotiating	March 2013