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Trans-Pacific Partnership: trade-offs and imperatives

On 5 October 2015, the United States and 11 other Pacific countries reached an agreement on the ambitiously transformative Trans-Pacific Partnership (TPP), after more than five years of intense negotiations[1]. It is the most far-reaching trade agreement since the Uruguay Round of the 1990s.

The TPP opens a new generation of integration efforts beyond trade in goods, covering services, investment, intellectual property, labour, environmental standards, and non-tariff barriers—areas where India clearly has considerable comparative interest and potential. The TPP could also spur other ongoing trade negotiations in Asia, and globally, thereby boosting multilateral trade initiatives.

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