Pacific Partnership Agreement, including the removal of restrictions on trade and investment between the 12 countries
November 7, 2015
The United States and other countries issued a signatory to the Convention on «Trans-Pacific Partnership» text of the Convention, which establishes a free trade area comprising the Pacific Rim countries.
And it reveals the text issued yesterday details of the agreement reached by the ministers of trade in the countries of «Trans-Pacific Partnership» early October, where supporters say the agreement it would lead to the cancellation of most of the fees and restrictions on trade and investment between the countries of the 12 American and Asian countries as well as the development of standards New economic activity and the protection of intellectual property rights.
The agreement consists of 30 chapters and includes the abolition or reduction of about 18 thousand customs duty on industrial and agricultural goods, including textiles and clothing and the rules of trade in services and financial products with a commitment to freedom of e-commerce and the Internet.
The agreement includes patents rules and protection of trademarks and other topics protection of intellectual property rights in the free trade area including the pharmaceutical industry and in particular the application of environmental and labor rules items.
The agreement still requires ratification by the parliaments of countries signatory, where he faces difficulties in the US Congress, where the front of the members either approve it as a whole or rejected as a whole according to the law «rapid commercial track», which allows the US administration to hold free trade agreements with other countries and display Congress for ratification without a detailed discussion.
And it divided the US Democratic Party, which belongs to President Barack Obama about the agreement, which strongly opposed by trade unions and the party candidate for the next presidential election Hillary Clinton members .
He called on the US Trade Representative Michele Forman members of Congress to think about the price that the United States would pay in case of non-approval of the agreement. He said that «increase the United States in the development of rules through trade in the Asia-important and vital and the Pacific» warning to allow China to control.
He added that «the failure to pass the partnership agreement across the Pacific will have a high price here at home, for the loss of jobs and lower wages and wasted opportunities, the partnership agreement across the Pacific to ensure a better tomorrow, where the Americans a fair share of the global economy, and will provide the US economy more higher-paying jobs. »
For his part, Richard Trumka head of the union «Oah.av.al-Sa.aa.oo» American labor union said that the most frustrating of the agreement, claiming that «our recommendations on policies and those relating to the reform of our allies (the other signatories of the agreement) in the fields of environmental protection and Consumer and public health and global development and economic sectors have been largely ignored. »
In contrast, the Republicans have historically welcomed the agreements of the World Trade. The countries bordering the Pacific signatories to the agreement are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
The Free Trade Area of the partner countries across the Pacific Ocean about 40% of the total world economy and a population of more than 800 million people.
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