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Saturday, November 14, 2015

Important Topics For IAS UPSC Civil Services Mains Exam 2015 - Trans Pacific Partnership (TPP)

   What is TPP (Trans Pacific Partnership)?
  •  It is a trade pact that includes US, Canada, Japan, Vietnam, Chile, Peru, Australia, Malaysia, Mexico, Brunei, Singapore, New Zealand.
  • Membership of TPP is confined so far to Pacific-rim states.
  • TPP covers almost 40% of global trade.
  • Prospects of US pursuing a similar deal with EU called TTIP (Trans-Atlantic Trade and Investment Partnership) which will cover another 40% of world trade.
  • 7 of the members of RCEP (Regional Comprehensive Economic Partnership – an ASEAN led effort to form a free trade group of 16 Asian countries including India) are party to TPP.
  • There is domestic opposition to TPP in US as it may lead to job losses
  •  Critics in non-TPP countries say it will help US enforce trading and IPR (Intellectual Property Rights) standards much beyond WTO norms.
                To read in detail about TPP please click on the link https://en.wikipedia.org/wiki/Trans-Pacific_Partnership

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