ABSTRACT

In October 2015 representatives of 12 Pacific Basin countries announced agreement on an historic trade pact which, if ratified, could significantly increase the progress of globalization as other countries around the world look to avoid being left out of the next stage of economic integration. After five long years of negotiation, agreement was finally achieved among the members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam. The Trans-Pacific Partnership (TPP) is one of the largest trade agreements in history, with countries involved making up 40 per cent of the world’s GDP and 26 per cent of world trade, second only to the EU in these measures.