Trans-Pacific Partnership Agreement A Framework For Future Trade Rules

According to the Office of the United States Trade Representative, the TPP contains “the most robust environmental commitments in history. [90] The USTR notes that the TPP requires signatories to comply with its obligations under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) in order to protect and preserve iconic species. [90] According to the USTR, the TPP is the first trade agreement banning fishing-harmful subsidies such as those that contribute to overfishing. [90] The USTR states that TPP signatories are required to “fight illegal fishing,” “promote sustainable fisheries management practices,” “protect wetlands and important natural areas,” “fight illegal wildlife trade, illegal logging and illegal fishing” and “protect the marine environment from pollution from ships , including meeting its obligations under MARPOL (an international agreement for the prevention of marine pollution).” [90] The TPP could give new impetus to trade negotiations between China, Japan and Korea and increase the likelihood of a comprehensive regional economic partnership (RCEP) that could provide a possible path to a free trade area in the Asia-Pacific region. [23] Intellectual property protection. The agreement contained comprehensive intellectual protection provisions, including patent enforcement, the extension of copyright rules, and the protection of technology and trade secrets. These include controversial new protections for prescription drugs, including a new class of drugs known as biologics and promoted by the United States. The contracting parties to the TPP also agree to protect the marine environment from ship pollution and to protect the ozone layer from ozone-depleting substances. They reaffirm their determination to implement the multilateral environmental agreements (MEA) to which they have adhered.

The parties are committed to transparency in decision-making, implementation and enforcement of environmental decisions. In addition, the parties agree to create opportunities for public contributions to the implementation of the “Environment” chapter, including through public notices and public meetings of the Environment Committee, which was established for the implementation of the chapter. The chapter is subject to the dispute resolution procedure defined in dispute resolution. The parties also agree to promote voluntary environmental initiatives, such as corporate social responsibility programs. Finally, the parties commit to cooperation on issues of common or collective interest, including in the areas of conservation and sustainable use of biodiversity and the transition to low-carbon, resilient economies. On October 4, 2015, the ministers of the 12 Trans-Pacific Partnership countries – Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam – announced the conclusion of their negotiations. The result is a quality, ambitious, comprehensive and balanced agreement that will promote economic growth; Support job creation and retention Improving innovation, productivity and competitiveness; Improving living standards reducing poverty in our countries; promoting transparency, good governance and strengthening the protection of work and the environment. We consider the conclusion of this agreement, with its new and high standards of trade and investment in the Asia-Pacific region, to be an important step towards our ultimate goal of open trade and regional integration throughout the region. There is a view in the political discourse that India should actively adopt the standards contained in the agreement. Transpacic Partnership Agreement: A framework for future trade rules? provides a balanced and objective analysis of the likely effects of the introduction of TPP rules on developing countries such as India and makes a significant contribution