Trans-Pacific Strategic Economic Partnership Definition
The Trans-Pacific Strategic Economic Partnership Agreement (TPSEP) was signed in 2005. It refers to a free trade agreement that was signed by the governments of Brunei Darussalam, New Zealand, Singapore and Chile. These four countries are Pacific Rim countries (countries that border the Pacific Ocean). TPSEP came into force in 2006 and it is an agreement on a variety of issues on economy policies among these countries.
A Little More on What is the Trans-Pacific Strategic Economic Partnership
The Trans-Pacific Strategic Economic Partnership Agreement (TPSEP) is a free trade agreement that is all-inclusive. The economic factors and policies considered in TPSEP include government procurement, trade barriers, intellectual property, trade tariffs, trade in goods, trade in services and other competition policies that affect general trade. Although, this free trade agreement was signed in 2005, it did not become effective until 2006. One of the advocacy of the agreement is zero tariff by the end of 2005 and a 90 percent reduction of trade tariffs which was to take effect by January 1 2006. Also, TPSEP is said to have been built on an agreement that existed between New Zealand and Singapore in 2001.
Before the TPSEP agreement was signed in 2005, there have been negotiations between leaders of Pacific Rim countries on a variety of economy policy. Negotiations on the Pacific Three Closer Economic Partnership (P3-CEP) began in 2002 in Los Cabos, Mexico. This negotiation occurred between the leaders of three Pacific Rim countries, Chile, Singapore and New Zealand.
Quite a number of factors lead negotiations to arse, this may include the need to address certain economic issues or shared economic desires that exist between the countries. Before TPSEP was agreed on in 2005, Brunei alongside the other three Pacific Rim countries were actively involved in the negotiation before that agreement was later signed. Even after it was signed, negotiations still continued up until recent years.
References for Trans Pacific Strategic Partnership
Academic Research on Trans-Pacific Strategic Economic Partnership
The Trans–Pacific Partnership: New Paradigm of Wolf in Sheep’s Clothing, Lewis, M. K. (2011). BC Int’l & Comp. L. Rev., 34, 27.
American New Strategy of Asia-Pacific Regional Integration and China’s Policy: An Insight of Development of Trans–Pacific Strategic Economic Partnership [J], Bin, S. (2010). Nankai Journal (Philosophy, Literature and Social Science Edition), 4, 014.
The Trans–Pacific Partnership and Asia-Pacific Integration: Policy Implications, Petri, P. A., & Plummer, M. G. (2012).
Multilateralising regionalism: what role for the Trans–Pacific Partnership Agreement?, Capling, A., & Ravenhill, J. (2011). The Pacific Review, 24(5), 553-575.
The Trans–Pacific Partnership and China’s Corresponding Strategies, Yuan, W. J. (2012). Center for Strategic & International Studies, 2.
The Trans–Pacific Strategic Economic Partnership Agreement, Fergusson, I. F., & Vaughn, B. (2009, December). LIBRARY OF CONGRESS WASHINGTON DC CONGRESSIONAL RESEARCH SERVICE.
America Should Support the Trans–Pacific Strategic Economic Partnership, Markheim, D. (2008). Web Memo, (2178).
The Trans–Pacific Partnership Agreement (TPP) Negotiations: Overview and Prospects, Elms, D., & Lim, C. L. (2012).
Expanding the P-4 trade agreement into a broader trans–pacific partnership: implications, risks and opportunities, Lewis, M. K. (2009). Asian J. WTO & Int’l Health L & Pol’y, 4, 401.