For the apparel and textile industries, the trade accord is structured like other trade agreements.
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A day before the plan was unveiled at the trade promotion committee meeting in Seoul the countries that inked the multinational deal began releasing the full text of the agreement.
Trade ministers from a dozen Pacific nations in Trans-Pacific Partnership Ministers meeting post in TPP Ministers “Family Photo” in Atlanta, Georgia October 1, 2015.
Governments of the 12 member countries released the complete text online Thursday, making public the specifics of an agreement that critics complain was forged in secrecy.
President Barack Obama said Thursday that a huge free-trade deal between 12 Pacific Rim countries will boost the U.S. economy while protecting workers and the environment.
Significantly, Japan is increasing rice imports for the first time in 20 years under the TPP agreement.
“There’s hundreds and hundreds of pages of text so we haven’t had a chance to go through it all yet, but from what we know it’s consistent with what the announcements were when it was signed”, Mr Mahar said.
In the US, it faces a tough battle in Congress because of pressure from environmental and labor groups that have criticized the agreement for being too business-friendly.
“[The agreement] will ensure that our businesses and workers can compete on a level playing field globally”, she pointed out.
Iowa State University economist Dermot Hayes, who said a final TPP agreement would be “the most important commercial opportunity ever for USA pork producers”, estimates the TPP will exponentially increase US pork exports and help create more than 10,000 U.S.jobs tied to those exports.
“The government must keep its word and protect Canadian interests during the TPP’s ratification procedure – which comprises defending supply direction, our automobile sector, and Canadian manufacturing companies all over the united states”, he added.
Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the US are the nations that make up the Partnership that ties together 40 percent of the world’s economy.
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Details of the TPP have been kept under wraps during the more than five years of negotiations, angering those concerned over its broad implications.
