Negotiations for one of the largest Free Trade Agreements in history, the Trans-Pacific Partnership (TPP), concluded Monday 5th October, 2015.
The agreement focuses on reducing cross-border regulations, increased data protection and encouraging a more predictable legal environment for businesses to operate in. The agreement strengthen investment between all participating nations.
What countries are a part of the Trans Pacific Partnership?- Australia
- Brunei
- Canada
- Chile
- Japan
- Malaysia
- Mexico
- New Zealand
- Peru
- Singapore
- The United States
- Vietnam
The new agreement is set to open markets, cut red tape and reduce tariffs between the nations.
Customs officials will require fewer documents and adopt electronic pre-arrival processing and clearance of shipments
These steps will ensure expedition and reliability of delivery of cargo.
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