Trans-Pacific Partnership Agreement Passes

Wednesday, October 7, 2015

Trans-Pacific Partnership Agreement Passes

Australia Japan    Peru
Brunei Darussalam Malaysia Singapore
Canada Mexico United States
Chile New Zealand Vietnam

 On October 4, 2015, Ministers of the 12 Trans-Pacific Partnership (TPP) countries announced conclusion of their negotiations.  The result is a high-standard, ambitious, comprehensive, and balanced agreement that is intended to promote economic growth; support the creation and retention of jobs; enhance innovation, productivity and competitiveness; raise living standards; reduce poverty in the countries; and promote transparency, good governance, and enhanced labor and environmental protections.  It is envisioned that this is an important step toward the ultimate goal of open trade and regional integration across the region.

TPP unites a diverse group of countries – diverse by geography, language and history, size, and levels of development.  The TPP includes 30 chapters covering trade and trade-related issues such as textiles and apparel, rules of origin, financial services, intellectual property, labor, and environment, to name a few.  Schedules and annexes are attached to the chapters of the Agreement related to goods and services trade, investment, government procurement, and temporary entry of business persons.   For a more inclusive list please click on the following link:

https://ustr.gov/about-us/policy-offices/press-office/press-releases/2015/october/summary-trans-pacific-partnership#