Trans-Pacific Partnership: Canada, 11 Other Nations Conclude Historic Trade Deal

The Trans-Pacific Partnership (TPP) is an ambitious free trade agreement that has been in negotiations since 2010 among 12 countries, namely: Canada, the United States, Australia, Brunei Darussalam, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Collectively, these nations represent approximately 40 per cent of the world's gross domestic product (GDP) (roughly C$28.5-trillion), one-third of all international trade and over 775 million consumers. If ratified and implemented by all participating states, it will continue the trend toward lowering barriers to international trade and increasing access for Canadian exporters. If the TPP is ratified, Canada will have achieved free trade agreements with countries representing approximately 60 per cent of the world's economy and will have gained preferential access to markets containing more than 1.3 billion consumers.