Factsheet - The Trans-Pacific Partnership: Expanding the power of corporations

The Trans-Pacific Partnership (TPP) is a multilateral investment and corporate rights agreement involving 12 Pacific Rim countries. Canada joined the negotiations in 2012.

The text of the agreement was developed in secret. Parliamentarians were kept out of the loop. Corporate lobbyists, on the other hand, were given full access. The deal is now finalized and cannot be modified as it awaits ratification of the signatories. The countries involved (Australia, Brunei Darussalam, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States of America and Vietnam) make up approximately 40 per cent of the global economy.

The TPP is a “docking” agreement, meaning that other countries can join the existing deal without negotiations, which is significant due to the failure of previous multilateral efforts. Countries, such as the Philippines, Thailand, South Korea, Colombia and Taiwan, are considering joining.

Of the 30 chapters in the TPP only six relate to trade issues. The TPP is not a “trade” agreement – it is about entrenching and expanding the rights of corporations.

Read more about what’s in the TPP – including ISDS provisions – and examples of what we can expect from the TPP.

Wednesday, April 13, 2016