Mexico and 11 other countries signed the Treaty of Trans-Pacific Partnership – The Economist

Ministers of Mexico, United States, Australia, Brunei, Canada, Chile, Peru, Japan, Malaysia, New Zealand, Singapore and Vietnam created the biggest economic area in the world, with a market of over 800 million people.

WASHINGTON Ministers of Mexico, United States, Australia, Brunei, Canada, Chile, Peru, Japan, Malaysia, New Zealand, Singapore and Vietnam established today in the New Zealand capital increased free trade area in the world with the signing of the Trans-Pacific Partnership (TPP).

“After more than five years of negotiations, we are honored to enter into collective agreement TPP, which represents a historic achievement for the Asia Pacific region, “the officials said in a joint statement.

the 12 signatory countries of the TPP constitute almost 40% of world gross domestic product and a market of more than 800 million people.

“the agreement marks an important breakthrough and the beginning of the next phase of TPP. Our focus now is now directed towards completing our respective internal processes, “added

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part of North America, the TPP was signed by Mexico’s secretary of Economy Ildefonso Guajardo; Trade Representative of the White House, Michael Froman and Trade Minister of Canada, Chrystia Freeland.

In the case of Mexico, the economy minister said at a press conference that will be turned over immediately the US Senate for consideration.

“the analysis of the document and will probably be turned over to committees in the legislative session beginning in September will start, so we will vote for this agreement, if that’s the will of the chamber before the end of the year, “said Guajardo.

in the US, the TPP requires still be ratified by Congress, where it faces opposition Democratic Party despite being a project promoted by President Barack Obama emerged from their ranks

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However, the trade representative of the House white expressed his expectation that it is ratified by the US legislature when their benefits for the economy and the public of that country are recognized.

“I trust you will have enough bipartisan support to be approved by Congress” he said Froman.

United States hopes to increase its exports by 125,000 million for 2025 due to the TPP.

in the case of Canada, the Freelan minister said the TPP he will undergo an extensive parliamentary debate which will include the position of the original peoples.

the 12 ministers acknowledged in their joint statement the interest shown to the TPP by other economies in the region and reiterated its decision that the agreement is a platform for promoting high standards for wider economic integration

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