Transpacific Partnership-TPP What is, member countries, goals, TPP agreement, overview, economic data, benefits to the countries economic bloc formation, Transpacific partnership towards the formation of the largest economic bloc in the world, The Transpacific Partnership, also called TPP (Trans-Pacific Partnership) is a trade agreement among 12 countries of the Pacific region. The agreement was signed on 5 October 2015 and is expected to be approved in the U.S. Congress, and also by other Member countries before coming into force.
Reduction of trade barriers among member countries;
Cancel tariffs on trade in goods and services between the partner countries;
Increase trade among the countries of the agreement;
Establishment of common rules on intellectual property aimed at, mainly, to encourage multinational enterprises;
Establishment of standards and norms in the field of labor laws;
Adoption of common actions in combating crimes against the environment;
Increasing investments between the countries of the agreement;
Stimulate innovation, aiming at creating conditions for the economic development of the Member countries;
Creation and maintenance of jobs in member countries;
Creating mechanisms, to create conditions for the resolution of trade disputes between participating countries;
In future, the TPP can become a large economic bloc with the entry of new countries. South Korea, Taiwan, Colombia, Indonesia, Philippines and Thailand have announced interest in participating in the TPP;
United States of America
Economic data of the TPP (in October 2015):
GDP: about $ 50 trillion (about 40% of world GDP).
Number of customers estimated: about 790 million. Moving from the full operation (planned for 2025): about $ 220 billion.