Trans-Pacific Strategic Economic Partnership Agreement
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The Trans-Pacific Strategic Economic Partnership Agreement (TPSEP), also known as P4,[6] is a trade agreement between four Pacific Rim countries concerning a variety of matters of economic policy. The agreement was signed by Brunei, Chile, Singapore and New Zealand in 2005 and entered into force in 2006. It is a comprehensive trade agreement, affecting trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, trade in services, intellectual property, government procurement and competition policy. Among other things, it called for reduction by 90 percent of all tariffs between member countries by 1 January 2006, and reduction of all trade tariffs to zero by the year 2015.[7]
Quick Facts Type, Drafted ...
Type | Trade agreement |
---|---|
Drafted | 3 June 2005[1] |
Signed | 18 July 2005[2][3][4] |
Location | Wellington, New Zealand |
Effective | 28 May 2006[5] |
Condition | 2 ratifications |
Parties | |
Depositary | Government of New Zealand[3] |
Languages | English and Spanish, in event of conflict English prevails[3] |
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