With reference to the ‘Trans-Pacific Partnership’ consider the following statements:
- It is an agreement among all the Pacific Rim countries except China and Russia.
- It is a strategic alliance for the purpose of maritime security only.
Which of the statements is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Explanation
Both statements are incorrect
- The Trans-Pacific Partnership (TPP) was a proposed Free Trade Agreement between twelve Pacific Rim economies: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the US. TPP was initially touted as path-breaking for free trade, but fizzled out after the US withdrew. The remaining countries negotiated the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which incorporates most of the provisions of the TPP.
