After many hours of intense negotiation, agreement has been reached on the landmark Trans-Pacific Partnership (TPP) concluding a final lengthy round of negotiations in Atlanta, USA on 5 October 2015 (Washington DC time).
The full text of the agreement (constituting 30 chapters) is still to be released but to read further details from today’s announcement and implications for sectors and businesses please visit our TPP hub page.
What will this mean?
The TPP is the largest mega-regional trade and investment deal ever made, encompassing approximately 40% of global GDP and worth approximately USD 28 trillion.
It has enormous political, economic and legal implications and turns our attention not just to Asia-Pacific but to the whole of the Pacific Region, including importantly, the United States of America and South America. The Australian Trade Minister has described this agreement as “transformational”.
The TPP deals with important and controversial issues such as e-commerce, biologic patents, human rights issues, and the more traditional “trade” issues as they affect a wide range of industries. Of enormous importance is the inclusion of Investor-State Dispute Settlement (ISDS) provisions, with implications for the structuring of transactions within the Pacific region.
We will continually update the hub with new sector insights and analysis as more information is released. To ensure you receive regular alerts on any future developments as they are delivered, please fill in your details in the subscription area on the hub page to subscribe to our automatic updates.
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The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.