Wednesday, October 7, 2015

Great news from Atlanta – TTP is going to change the rules of trade

While Europe was busy about migrants; West Asia was busy about IS and India was busy in Bihar elections (and associated drama), history was in making in Atlanta. The historic deal of TTP (Trans Pacific Partnership Agreement) came to its formal shape in this busy town. Of course it has to be ratified by participating nations.

You may be wondering how this deal is going to make history? I would rather say, this is not only going to make history but will also change the economic future of Pacific Rim nations. Let’s look at some facts related to this deal.

TTP countries (Brunei, Chile, Singapore, New Zealand, Australia, Canada, Japan, Malaysia, Mexico, Peru, the United States, and Vietnam) produces 40% of global economic output. This deal is going to affect farmers, manufactures, drug makers, auto companies etc. in one way or other. US President Barak Obama, who invested a lot of time and energy for this cooperation says, “This partnership levels the playing field for our farmers, ranchers, and manufacturers by eliminating more than 18,000 taxes that various countries put on our products”

Interesting fact is China is not part of this deal. After all US don’t want to get China on its way, while getting back on the foot in terms of economic recovery. This deal already have powerful opponents.  However, I am for it. Once implemented this deal is definitely going to change the face of trade among participant nations.


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