Tpp Overview

AN INTRODUCTION

History

• The Trans-Pacific Partnership (TPP) builds from the Trans-Pacific

Strategic Economic Partnership Agreement (P4) between Brunei,

Chile, New Zealand and Singapore which entered into force in 2006.

• The first round of TPP negotiations was held in Melbourne in March

2010.

• Being a participant in TPP negotiations since the beginning has

enabled Australia to seize a strategic opportunity to shape the rules

that will govern trade in the region.

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TPP Membership

• Currently, there are 12 negotiating parties: Australia, Brunei,

Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru,

Singapore, the United States and Vietnam.

• These parties support expanding TPP membership to other

economies in the Asia-Pacific region.

– Prospective new members must demonstrate a commitment to

achieving an ambitious, comprehensive outcome in the TPP.

– Decisions on TPP membership are taken by a consensus of the

existing parties.

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TPP region

Canada

Japan

Vietnam

2013 population:

798.5 million

2013 GDP:

USD $27.75 trillion

(37.5% of global GDP)

Singapore

Malaysia

Brunei

Australia

2013:

3 .6% of Australia’s

total trade

United States

Mexico

Peru

Chile

New Zealand

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What is the TPP?

• The TPP will be a high quality, comprehensive trade agreement.

– It will address new and traditional trade issues in the region.

• Australia’s aim is to expand trade and investment between the TPP

countries.

• Once the TPP has entered into force it will co-exist with existing free

trade agreements.

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Shared vision for the TPP

TPP Leaders’ Statement, November 2011:

“…We are confident that this agreement will be a model for ambition

for other free trade agreements in the future, forging close linkages

among our economies, enhancing...