Friday, October 9, 2015

Why Obama's legacy trade agreement matters for development | Devex

Why Obama's legacy trade agreement matters for development | Devex: "While negotiations between the 12 countries have wrapped up, the text of the agreement itself will likely not be made public for another few weeks — or perhaps months. Importantly, that final text will ultimately contain the key details of how TPP countries will implement and enforce the accord. What is available so far is the 30-chapter summary of the agreement.

The TPP agreement summary contains an entire chapter specifically on development and it is believed to be a first time that such a multinational trade deal includes a specific focus on the topic. It mentions three areas “to be considered for collaborative work” once TPP enters force — broad-based economic growth, women’s empowerment and education, science and technology. But it remains unclear exactly how a specific development focus will be woven into the contours of the agreement. And the language around it appears vague, for example, calling for the establishment of a TPP Development Committee that will “meet regularly to promote voluntary cooperative work in these areas and new opportunities as they arise.”"

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