Trans-Pacific Partnership (TPP), is a proposed trade agreement which seek to expand the reach and scope of present 4 nation trade agreement namely TPSEP (Trans-Pacific Strategic Economic Partnership Agreement). Brunei, Chile, New Zealand, and Singapore had inked the trade treaty 'TPSEP' in 2005.
And like all other international trade agreement it seeks to integrate these economies to promote growth and development by facilitating trade conducing enviornment.
The Proposed Members
- Apart from the above four the negotiations are on with US, Canada, Australia, Japan, Peru, Malaysia, Vietnam and Mexico for expansion of membership (reach).
- Two more countries namely South Korea and Taiwan are also showing interest in joining this group.
- The treaty, should it come into force, will enhance trade and investment in the region catapulting economic growth through jobs creation.
- It will also assist in promoting innovation through a strict regime of copyrights.
- It has also drawn huge criticism for controversial clauses like clandenstine proceedings and expansive scope.
- New Zealand is the most vocal opponent of this provision.
Highly restrictive regime of Intellectual Property Rights
- Elimination of affordable generic medicines as consumers will be bound to buy exclusively available expensive brands due to biological patents.
- The same rule will also hit the small scale publishers and relatively open internet services.
- It grants right to individuals to sue governments under international law thus weakening state influence and will possibly lead to compromise in the pro-public stance on environment, human rights and public welfare.
- The details of agreement not be released to general public (fearing public backlash) until the treaty is inked.
- Even then, only the final text of agreement will be made available.
- Masses will have to wait another 4 years to get the nitty gritty of the negotiations.
To many it appears like an anti-people pact that will serve the exclusive interest of wealthiest by letting them maximize profit and their domination of national governments and working class.