The Importance Of The Trans-Pacific Partnership Agreement

1420 Words 6 Pages
The Trans-Pacific Partnership agreement (TPP) is an agreement involving 12 nations in the Pacific Rim. Although not yet ratified, this free-trade agreement (FTA) is a significant and purposeful step in the international cooperation of these 12 nations. It is an extension of the Trans-Pacific Economic Partnership (TPSEP), an agreement among four nations, which involves three of the nations that signed the TPP: Singapore, New Zealand and Brunei. This is the first trade agreement of the 21st century and it is ready to make a big impact in the world’s economy. This agreement will be successful in the region by “reducing and eliminating tariffs, fostering competition, and creating greater opportunities for businesses” (Coyle). They also, “agreed to promote environmental protection practices and enforce laws protecting workers” (Coyle). With all the …show more content…
While 13 of the nations have large populations of over 100 million, three have less than 10 million people (Schott 6). The population size, as well as the fact that they have various political regimes, impact the nations’ culture and identity. Each nation although seemingly different, can strive toward the same outcome. The nations have a range of economies that can help with the economic development of the other nations with smaller economies. Every one of the nations involved has a unique history and culture that must not be ignored. However, a connection is able to be created between all 12 nations which is beneficial to all parties involved. As the preamble of the agreement states, “recognize the importance of cultural identity and diversity among and within the Parties, and that trade and investment can expand opportunities to enrich cultural identity and diversity at home and abroad” ("The Trans-Pacific Partnership." The United States Trade Representative). Each nation benefits differently due to the size and power of its

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