Member Article

The Obama Administration recently released the signed text of the Trans-Pacific Partnership (“TPP”), which represents an important advancement in trading relations among 12 Pacific countries:

• Australia
• Brunei Darussalam
• Canada
• Chile
• Japan
• Malaysia
• Mexico
• New Zealand
• Peru
• Singapore
• United States
• Vietnam

Trade among TPP members is estimated to account for 24 percent of global exports. These countries have an aggregate gross domestic product of $88 trillion (40 percent of the world total) and a market size of 793 million consumers. Latest data on trade among the TPP member countries show $1.5 trillion in goods (2012) and $242 billion in services (2011).

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