The European Commission welcomes the conclusion of negotiations on TPP

The European Commission welcomes the conclusion of negotiations on TPP


The agreement to establish the TRANS-Pacific partnership was reached in early October. It will created a free trade area in the Asia-Pacific region. The Pacific countries account for over 40% of the world economy and a third of world trade.

BRUSSELS, 14 Oct. Maria Knyazeva. The conclusion of the agreement establishing the TRANS-Pacific partnership is good news for the world, said the European Commissioner for trade Cecilia malmström at a press conference on Wednesday.

The agreement to establish the TRANS-Pacific partnership was reached in early October. It will created a free trade area in the Asia-Pacific region. The Pacific countries account for over 40% of the world economy and a third of world trade. The parties to the agreement — the U.S., Canada, Mexico in North America, Peru and Chile to the South, Japan, Malaysia, Brunei, Singapore and Vietnam in Asia as well as Australia and New Zealand.

“We certainly welcome the conclusion of these negotiations. This is good news for the whole world,” she said.