Trans Pacific Partnership agreement signed by twelve countries
The Trans-Pacific Partnership agreement has been signed by twelve countries in a deal that has taken seven years of negotiations to come to fruition.
The agreement was signed by Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam at a ceremony in Auckland, New Zealand.
The agreement covers a wide range of trade issues and runs to many hundreds of pages but the legally verified version of the text by chapter can be found on the New Zealand Foreign Affairs & Trade website in English (it is also available in French and Spanish) here.
Or you can access the full text on the website of the Office of the United States Trade Representative here.
A minister’s statement on the agreement as published on the New Zealand government website, Beehive, is as follows:
“Trans-Pacific Partnership Ministers’ Statement
February 4, 2016
We, the Ministers representing Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam, are pleased to announce that we have today signed the Trans-Pacific Partnership agreement.
After more than five years of negotiations, we are honoured to be able to formalise our collective agreement of TPP which represents an historic achievement for the Asia-Pacific region.
TPP will set a new standard for trade and investment in one of the world’s fastest growing and most dynamic regions. We signatories comprise nearly 40 percent of global GDP, a market of more than 800 million people, and around one third of world trade. Our goal is to enhance shared prosperity, create jobs and promote sustainable economic development for all of our nations.
The signing of the agreement signals an important milestone and the beginning of the next phase for TPP. Our focus now turns to the completion of our respective domestic processes.
We recognise the interest shown by a number of other economies throughout the region. This interest affirms our shared objective, through TPP, of creating a platform that promotes high-standards for broader economic integration in the future.”