Singapore, one of the busiest ports in the world. Image: “Port of Singapore” by Noee is licensed under CC BY 2.0
The Trans Pacific Partnership was signed by representatives from its 12 member nations in Auckland, New Zealand, on Feb 4. They now have two years to ratify or reject the pact.
The 12 countries—consisting Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam—make up 40% of the world economy.
The deal has involved more than five years of negotiations and is widely seen as the most significant trade deal in years. However opponents of the deal fear this will move jobs from developed to developing countries. Others have argued that the free trade agreement would give multi-national corporations more monopolising power while compromising labour rights, environmental issues, and health and food security.
In the first of two articles, Michael Buckley analyses the issues that could lubricate or stall the TPP’s progress.
Cover image credit: “Singapore, Marina Bay” by Leonid Yaitskiy is licensed under CC BY 2.0