The Trans-Pacific
Partnership (TPP) or Trans
Pacific Partnership Agreement (TPPA) is a trade agreement among twelve Pacific Rim countries - but not including China.
The finalized proposal was signed
on 4 February 2016 in Auckland, New Zealand, concluding seven years of
negotiations.
It is currently awaiting ratification to enter into force. The 30 chapters of the agreement aim to
"promote economic growth; support the creation and retention of jobs;
enhance innovation, productivity and competitiveness; raise living standards;
reduce poverty in the signatories' countries; and promote transparency, good
governance, and enhanced labor and environmental protections.
The TPP contains
measures to lower both non-tariff and tariff barriers to trade, and
establish an investor-state dispute
settlementmec hanism.
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