12 Pacific rim nations seal deal for world's largest free trade area
Agreement on TPP aims to set rules for 21st century trade and investment and press China to shape its behaviour to accord's standards
Atlanta
TWELVE Pacific rim countries sealed the deal on Monday on creating the world's largest free trade area, delivering US President Barack Obama a major policy triumph.
The deal on the Trans-Pacific Partnership (TPP), led by the United States and Japan, aims to set the rules for 21st century trade and investment and press China, not one of the 12, to shape its behaviour in commerce to the TPP standards.
"After five years of intensive negotiations, we have come to an agreement that will create jobs, drive sustainable growth, foster inclusive development, and promote innovation across the Asia-Pacific Region," said US Trade Representative (USTR) Michael Froman.
The hard-won deal to create the world's largest free-trade area, encompassing 40 per cent of the global economy, came after five days of round-the-…
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