TPP

 The Trans-Pacific Partnership (TPP) is a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

The finalized proposal was signed on 2016 in Auckland, New Zealand, concluding seven years of negotiations.

 The TPP contains measures to lower both non-tariff and tariff barriers to trade, and establish an investor-state dispute settlement (ISDS) mechanism.

 Current trade agreements between participating countries, such as the North American Free Trade Agreement, will be reduced to those provisions that do not conflict with the TPP or provide greater trade liberalization than the TPP.

 TPP a companion agreement to the proposed Transatlantic Trade and Investment Partnership (TTIP), a broadly similar agreement between the U.S. and the European Union.

 The largest economy in the Pacific Rim not involved in the negotiations is China.

 Sri Lanka has announced interest of joining the TPP and is currently studying its feasibility.

 TPP lays out a minimum level of protection parties to the Agreement must grant for trademarks, copyright, and patents.

 US administration recently withdrew its candidature from the organisation.