With reference to the ‘Trans-Pacific Partnership’, consider the following statements :
1. It is an agreement among all the Pacific Rim countries except China and Russia.
2. It is a strategic alliance for the purpose of maritime security only.
Which of the statements given above is/are correct?
This questions was previously asked in
UPSC CSP Previous Year Paper (2016)
Both 1 and 2
Incorrect AnswerNeither 1 nor 2
Correct AnswerExplanation:
The agreement was reached in 2015 among the twelve Pacific Rim countries in the form of largest trade liberalization pact since WTO. TPP is essentially a Free Trade Area.
The 12 countries among which TPP has been agreed upon include – United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. These countries are home to 800 million people and account for 40% of global trade. It’s no an agreement between ALL the Pacific Rim except Russia & China. Only 12 out of nearly 50+ Pacific Rim countries are part of it.
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By: Abhipedia