Trans pacific Partnership (TPP) Flashcards
Objectives
To continue the trade and investment liberalization efforts being undertaken through WTO and the FTA initiatives
To develop transparent and predictable rules and disciplines with adequate recourse in the event of any disputes
To develop a more transparent and inclusive regulatory environment which allows all relevant parties to engage in a meaningful and constructive manner on manners of significant economic impact
What is TPP?
It is a proposed regional free trade agreement. It is a comprehensive agreement, affecting trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures technical barriers to trade, trade in services, intellectual property, government procurement and competition policy.
Tpp agreement principles
Simplifies trade and enhances competitiveness
Enhances regulatory coherence
Comprehensive agreement
Promotes open and equal procurement opportunities
Adopts the highest standards of intellectual-property protection
Comprehensive agreement
Successful TPP agreement should cover all elements of a trade
Simplifies trade and enhances competitiveness
Should adopt simpler, effective and coherent rules that promote trade in a safe, secure and mutually beneficially manner.
Enhances regulatory coherence
Would facilitate the movement of goods and services throughout the TPP countries
Adopts the highest standards of intellectual-property protection
Should protect intellectual property as a major contributor to economic growth, employment and success throughout the TPP countries.
Promotes open and equal procurement opportunities
Should open, transparent, non-discriminatory and efficient government-procurement process
Members
12
Brunei, Malaysia, Singapore, Vietnam, Korea
Australia, New Zealand
Chile, Peru
Canada, Mexico, US
Why China not a member of TPP
The biggest risk is political that might divide the region strategically between its members and the rest if China will be in TPP
China’s participation in the process would weaken containment policies strategically and US bargaining position economically
TPP vs WTO
Tpp process is consensus driven
Wto is a venue for high standard trade deals
Problems / Issues
Lacks transparency
Needs public input
Lack transparency
Negotiations have taken place behind closed doors
Needs public input
Since the meetings are all behind closed doors and text is kept secret, the public is locked out of negotiations.
