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 TPP
The P4, formally the "Trans-Pacific Strategic Economic Partnership Agreement", is a so-called free trade agreement betweeen the four Pacific governments of Brunei Darussalam, Chile, New Zealand and Singapore. It was previously dubbed the P3 until Brunei was incorporated into the negotiating process.

It was signed on 3 June 2005 and came into force on 1 January 2006.

In September 2008, the US Trade Representative announced that the US will negotiate entry into the P4 agreement, tentatively starting in March 2009. In November 2008, the governments of Australia, Peru and Vietnam announced their inclusion as well, while the Chilean government is lobbying the Korea government to also join. This raises the spectre of any "P4+" deal evolving into a potentially APEC-wide, comprehensive free trade agreement, which the Obama administration now confirms [International Trade Daily, 5 March 2009].

Some people are cautiously calling the next step "P7" because it will presumably be a Pacific FTA between Australia, Brunei, Chile, New Zealand, Peru, the US and Vietnam. Others, like the USTR, prefer the term "Trans-Pacific Partnership" or "TPP".

last updated: March 2009


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