Pacific Rim countries agree on free trade

Washington, Oct 5 (IANS) Top trade negotiators of the US and 11 other Pacific Rim countries have reached a deal on the Trans-Pacific Partnership (TPP) free trade agreement, which covers about 40 percent of global economic output, the media reported Monday.

Senior officials announced the deal at a closing press conference in Atlanta, Georgia, after wrapping up the round-the-clock TPP ministerial meeting that lasted for about five days but was under negotiation for five years, Xinhua news agency reported.

Trade officials originally planned to end the TPP talks on October 1, but a final deal was delayed by differences over agricultural market access, rules of origin for autos and intellectual property protections for a new generation of drugs known as biologics.

The TPP, believed to be the world’s biggest trade agreement in the past two decades, will lower trade and investment barriers in the 12 partner countries in the Asia Pacific region and set new rules for the global trading system.

If approved, the agreement has the potential to influence trade in everything from dairy produce to cancer treatments.

The TPP talks involved Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here