Trans-Pacific Partnership Agreement – Next Stages Achieved.
Legal News & Analysis - Asia Pacific - International Trade
21 February, 2016
The Trans-Pacific Partnership was officially signed by the 12 foundation members on 4 February in New Zealand.
Notwithstanding the signing of the TPP, considerable work has yet to be done to bring it into effect. Ratification of the agreement must now take place within a time period of 2 years for it to have legal force. At least 6 of the countries with a combined GDP of 85% of the group’s total GDP must ratify the agreement in this timeframe for it to come into force.
As a first step in Australia, the text of the TPP together with a National Interest Analysis of the agreement was tabled in Parliament by Trade Minister Andrew Robb on 9 February.
Click here to read the Analysis.
For further information, please contact:
Jay Leary, Partner, Herbert Smith Freehills