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Trans Pacific Partneship

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Submitted By Jirani
Words 507
Pages 3
The Trans-Pacific Partnership (TPP) is an international trade agreement that is aimed creating an Asian-Pacific free trade area. The TPP arises from the Trans-Pacific Strategic Economic Partnership Agreement that was reached in 2006 by only four countries. Australia joined the TPP in 2008. One of the main reasons behind Australia’s interest in the agreement an estimated 70 per cent of country’s trade flows through this region . Currently, the accord is being negotiated by 12 Pacific Rim countries including Australia, the United States, Canada, Brunei, Chile, Malaysia, Japan, Mexico, Peru, New Zealand, Peru, Vietnam and Singapore. Once the agreement is finalized each member will have to harmonize the relevant regulations according to conventional TPP standards. The conclusion of the TPP is also expected to integrate the Australian economy into the wider Pacific region where the country will benefit from the substantial removal of tariffs and non-tariff barriers. Although the TPP is referred to as a free trade agreement, it is not exclusively about the trade. In fact, trade is only covered under five chapters out of a sum of 29 chapters. Two decades ago, the idea of incorporating labour standards in trade agreements was considered a far-fetched thought . The TPP is a peculiar transnational accord since, integrates labour standards as part of the commitments to be followed by each country. Essentially, the agreement seeks to provide a new benchmark that will enhance the benefits of workers across the region by upholding compliance with ‘internationally recognized labour rights and the effective enforcement of labour laws’ . In this respect, the agreement aspires to protect workers by including binding and enforceable obligations such as:
i. Protecting the freedom of collective bargaining and forming trade unions ii. Eliminating forced and child labour
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