Q: With reference to the ‘Trans-Pacific Partnership’, consider the following statement
a) It is an agreement among all the Pacific Rim countries except China and Russia.
b) It is a strategic alliance for the purpose of maritime security only.
The correct answer is Neither 1 nor 2.
Trans-Pacific Partnership
- It is a trade agreement between 12 pacific-rim countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States. It is not an agreement between all the pacific rim countries. Hence statement 1 is not correct.
- It was signed on 4 February 2016 in Auckland, New Zealand
- The agreement covers 40% of the world’s economy
- This is a trade agreement that would liberalize trade and investment among the 12 pacific-rim countries. Hence statement 2 is not correct.
- The objective is to promote economic growth; support the creation and retention of jobs; enhance innovation, productivity and competitiveness; raise living standards; reduce poverty in our countries; and promote transparency, good governance, and enhanced labour and environmental protections.
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