Trans-Pacific Partnership text released to public
06 November 2015, Nirapad News: The long-awaited text of the landmark trade deal called the Trans-Pacific Partnership (TPP) has been released to the public for the first time.
The TPP is one of the world’s most extensive trade agreements, bringing together 12 Pacific rim countries, including the US and Japan, reports the BBC.
The deal was struck last month after five years of tense negotiations, but continues to face fierce opposition.
The text still has to be translated into the languages of the signatories.
It also must still be ratified by lawmakers in each member country and some of the countries involved need it to undergo a legal review.
The full text is about 6,000 pages long and was first released by New Zealand’s government.
Critics have said the deal is biased towards corporations, and does not cover climate change concerns, among several other issues.
Public Citizen’s Global Trade Watch said on Thursday the final text had revealed details about the deal that were worse than expected.
“Apparently, the TPP’s proponents resorted to such extreme secrecy during negotiations because the text shows that the TPP would offshore more American jobs, lower our wages, flood us with unsafe imported food and expose our laws to attack in foreign tribunals,” the organisation’s director Lori Wallach said.
The member countries of the TPP account for some 40% of the global economy and include Australia, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
The deal cuts trade tariffs and sets common standards in trade for all the countries.