Trans Pacific Partnership Agreement (TPPA) was finalized on
October 05, 2015 among 12 member states to promote economic growth, job
creation, innovation, productivity, competitiveness, and living standards,
reduce poverty, transparency, good governance, labor and environmental
protection among the member states etc.
Potential Benefits of
TPPA
1. TPPA could offer comprehensive market access for the
member states. It will eliminate or reduces tariff and non-tariff barriers
across substantially all trade in goods and services and covers the full
spectrum of trade, including goods and services trade and investment.
2. This agreement will facilitates the development of
production and supply chains, and seamless trade, enhancing efficiency and
supporting their goal of creating and supporting jobs, raising living standards,
enhancing conservation efforts, and facilitating cross-border integration, as
well as opening domestic markets.
3. TPPA will promote innovation, productivity, and
competitiveness by addressing new issues, including the development of the
digital economy, and the role of state-owned enterprises in the global economy.
4. It includes new elements that seek to ensure that
economies at all levels of development and businesses of all sizes can benefit
from trade. It includes commitments to help small- and medium-sized enterprises(SMEs)
5. It also includes specific commitments on development and
trade capacity building, to ensure that all Parties are able to meet the
commitments in the Agreement and take full advantage of its benefits. It could
be a platform for regional economic integration of the member states.
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