With TPP signed, 2-year ratification process is up next

AFTER five long years of tough negotiations and several missed deadlines, Singapore and 11 other Pacific-Rim nations finally put pen to paper on the Trans-Pacific Partnership (TPP), a big step towards establishing what will be the biggest trade deal in history.

The US-led pact was signed by the countries' respective trade ministers in Auckland on Thursday; Singapore was represented by Trade and Industry Minister Lim Hng Kiang, who hailed the agreement as an important milestone for regional trade liberalisation.

The TPP signatories are Singapore, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, the US and Vietnam.