In January 2008, the United States agreed to participate in discussions with four Member States (P4) on the liberalization of trade in financial services. On September 22, 2008, Susan C. Schwab, the U.S. Trade Representative, announced that the U.S. would begin negotiations with the P4 countries to join the TPP, with the first round of negotiations in early 2009. Initially, only three countries participated in the negotiations on the creation of the TPSEP, namely Chile, New Zealand and Singapore. It was later completed by Brunei. The original TPSEP agreement contained participation clauses and reaffirmed member states` commitment to encourage the participation of other countries in the agreement. The TPPA covers not only goods and services, but also financial services, telecommunications and even food safety standards. It has an impact on Member States` policies and rules.

The TPP aims to increase trade and investment between Member States, stimulate innovation, economic growth and development and support job creation and maintenance. Nevertheless, the consultation with health professionals, internet freedom activists, environmental activists, labour groups and politicians has been criticised for taking place in secret, largely from the agreement and controversial clauses of the leaked draft. The agreement began in 2005 as a Trans-Pacific Strategic Partnership (TPSEP or P4) agreement. Member States set targets to conclude the negotiations in 2012, but controversial issues such as agriculture, intellectual property, services and investment continued until the end of 2015. A series of negotiations were conducted, including Ottawa (2014), Hanoi (2014), Hawaii (2015) and Atlanta (2015). Approval of the TPP is one of the main goals of the U.S. President Barack Obama`s administration`s trade agenda. The TPPA is a form of free trade agreement that has many advantages. The agreement covers 11 countries representing 40 percent of the total gross domestic product (GDP) of $107.5 trillion and has 793 million people.

[1] Although this agreement does not concern China, the territory is the largest in the world for the countries participating in the TPPA agreement, larger than the territory of NAFTA. GATT was first discussed at the UN Conference on Trade and Employment and was the result of the failure of government consultations on the creation of an International Trade Organisation (ITO). It was signed on 30 October 1947 in Geneva by 23 countries and entered into force on 1 January 1948. This was the case until it was signed on 14 April 1994 by the 123 countries of Marrakesh, the Uruguay Round Agreement, which created the World Trade Organization (WTO) on 1 January 1995. The WTO is a continuation of the GATT and the original text of the GATT (GATT 1947) is still within the framework of the WTO, subject to the amendment of the GATT in 1994. [1] [2] States that did not become members of GATT in 1995 must meet the minimum requirements set out in certain documents before they can participate. As of September 2019, the list included 36 countries. [3] This agreement should continue to boost exports and economic growth, create more jobs and in turn bring prosperity to the 12 countries concerned.

The TPPA has also levelled the field of competition by promoting competition in the economy. It can also contribute to improving workers` living standards by coordinating workers` legal standards and preserving the environment. Other countries interested in joining the TPP are Taiwan, the Philippines, Laos, Colombia and Indonesia. Cambodia, Bangladesh and India are also described as interested….