While Australia has free trade agreements with nine of eleven TPP members, the TPP still represents significant opportunities for exporters to Australia, and importers of Australian goods.
What is the TPP?
The short story is that the TPP is a comprehensive free trade agreement between Australia, Japan, Canada, Mexico, Malaysia, Vietnam, Chile, Peru, New Zealand, Singapore and Brunei. The TPP originally included the US, but President Trump withdrew the US from the agreement on his first day in office. When enacted, the TPP will extensively liberalise trade in goods and services and remove investment restrictions amongst TPP members.