Trans-Pacific Partnership

Topics: International trade, Free trade, Tariff Pages: 2 (465 words) Published: February 26, 2011
Mohd Zuhairi bin Mazlan

Trans-Pacific Partnership

Hello and good evening to everyone,my name is Mohd Zuhairi b Mazlan and I’m second year of Ukm’s student.i’m from Malaysia and it’s a great pleasure to share with all of you about the Trans Pacific Partnership and what the significance of it for Malaysia The Trans-Pacific Partnership, also known as the Trans-Pacific Strategic Economic Partnership Agreement or TPP agreement is a multilateral free trade agreement that aims to integrate the economies of the Asia-Pacific region. The original agreement between the countries of Brunei, Chile, New Zealand and Singapore was signed on June 3, 2005, and entered into force on May 28, 2006. Five additional countries, including Australia, Malaysia, Peru, United States, and Vietnam, are currently negotiating to join the group. The TPP was previously known as the Pacific Three Closer Economic Partnership (P3-CEP), its negotiations launched on the sidelines of the 2002 APEC Leaders' Meeting in Los Cabos,Mexico, by Chilean President Ricardo Lagos and Prime Ministers Goh Chok Tong of Singapore and Helen Clark of New Zealand. Brunei first took part as a full negotiating party in the fifth round of talks in April 2005, after which the trade bloc became known as the Pacific-4 (P4). What is the significance of TPP?.

The objective of the original agreement was to eliminate 90 percent of all tariffs between member countries by January 1, 2006, and reduce all trade tariffs to zero by the year 2015. It is a comprehensive agreement covering all the main pillars of a free trade agreement, including trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, trade in services, intellectual property, government procurement and competition policy.[1] Why is Malaysia interested in TPP and is it benefecial for Malaysia? Malaysia became a full negotiating member at the third round in...
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