Trans-pacific Partnership - Research Paper Example

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Trans-pacific Partnership

Initially, the Trans-Pacific Partnership was known as Pacific Three Closure Economic Partnership (P3-CEP). The negotiations related to this agreement began in 2002 in one of the meetings attended by the leaders of the Asia Pacific Economic Cooperation (APEC). This meeting of the APEC body took place in Lao Cabos, Mexico, and some of the prominent leaders who participated in this meeting were Ricardo Lagos, the President of Chile; Goh Chok Tong, the Prime Minister of Singapore; and Helen Clark, the Prime Minister of New Zealand. The trade bloc was renamed to Pacific-4 (P4) in 2005 when Brunei was included as a full negotiating party. As a matter of fact, all the negotiating and original parties were APEC members, but TPP was not an initiative taken up by the APEC body. They original TPP agreement was signed on 3 June 2005 by Chile, Brunei, Singapore and New Zealand and was enacted on 28 May 2006. TPP is considered to be a comprehensive free trade agreement between the negotiating parties which have an impact on goods traded worldwide, the trade remedies, rules of origin, sanitary measures, various types of technical barriers experienced in trade, services trading, trade in intellectual property, competition policy and government procurement. One of the most important clauses in this trade agreement is the proposed elimination of trade tariffs between the member countries by the end of 2005 (“Trans-Pacific Strategic Economic Partnership Agreement”). Negotiations are being carried out by several other nations. ...Show more

Summary

The aim of the research paper “Trans-pacific Partnership” is to analyze the Trans-Pacific Strategic Economic Partnership Agreement. This was a free trade agreement which was enacted with the aim of further liberalizing the various Asia-Pacific economies.

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