What the Trans-Pacific Partnership means for countries that trade with Australia

  • The Trans-Pacific Partnership (TPP) was signed on 8 March 2018.
  • Exporters and importers will need to ensure high levels of trade compliance.
  • Companies should start to take the TPP outcomes into account when developing supply chain strategies and undertaking long term planning.

Close up of Australian bank note

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.

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