MOSCOW (Pakistan Point News / Sputnik - 30th December, 2018) The Trans-Pacific Partnership (TPP) agreement will enter into force on Sunday, 60 days after Vietnam, the seventh party to the TPP, had ratified the deal.
The TPP was signed in 2016 and originally brought together 12 Pacific Rim nations, including the United States. However, new US President Donald Trump, who repeatedly criticized TPP during his election campaign, withdrew the country from the deal in 2017, arguing that poorly negotiated trade agreements were harmful to the US job market.
Following the US withdrawal, the 11 remaining nations continued their efforts to create a free trade zone. On March 8, the foreign ministers of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam signed the revised version of the TPP.
