Widely hailed as the most important free trade agreement in history, the Trans-Pacific Partnership incorporates 12 countries from the Pacific Rim, accounting for 40% of the world’s GDP and 25% of world trade.
The agreement includes widely different economies; from global heavyweights Japan and the U.S. to small nations like Brunei.
Three Latin American countries have joined the TPP, which has yet to be ratified by each country’s legislative body: Mexico, Chile and Peru. These three economies are among the most dynamic in the region and together with Colombia form the Pacific Alliance, a regional free-trade bloc.
Expectations on the TPP abound for these Latin American economies, from a boost in competitiveness and production to a threat to local industries.
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