Trans-Pacific Partnership is one of the biggest commercial agreements in the world. This treaty affects 498 million people and 13% of the global economy. Last march 8, eleven Pacific countries met in Chile. Ministers from Australia, Canada, Chile and Mexico, among others, signed the creation of Trans-Pacific Partnership, the new TPP. The ceremony was headed by the president of Chile, Michelle Bachellet.
“It is an ambitious treaty, with a vision of the future. The signing of the treaty is the reaffirmation of the Chile’s commitment to free trade and integration against protectionist’s currents”
The agreement is known as TPP 11 o CPTPP. This agreement includes 11 countries after the refusal to sign the United States.
The Chilean president affirmed that this pact is comprehensive and progressive and also constitutes a clear message that the signatory countries support open markets. On the other hand, she said that the commitment to free trade is consolidated.
The original TPP. His origins.
This treaty was signed in February of 2016 where United States was includes, but the Donald Trump administration decided to withdraw the US from the pact. However, the other countries met in Viña del Mar in March 2017, to resume the project. In November, these countries reached an agreement on the basic principles of the new treaty.
The definitive agreement
This pact will try to preserve the majority of points of the original TPP, especially the intellectual property chapter. The CPTPP must be ratified by the congress in each of the countries that have signed the agreement. The treaty will come into force at the end of the year.
For companies located in Chile, that is the case of
Lamaignere Chile, this new represents a good step for the integration of Chile in foreign trade.
SHARE:
Chile 
United States 
Mexico 
Korea 
Panama 
Colombia 
Portugal
Arab Emirates 
Uruguay 
