We, the Leaders of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam, met today to mark the conclusion of negotiations on the Trans-Pacific Partnership agreement. We congratulate our Ministers and negotiating teams, after more than five years of negotiations, on delivering a result that achieves the goal set out in 2011 of a comprehensive, balanced, and transformational regional agreement – one that spans the Pacific, touches three continents, and unites 800 million people.
By setting high-standard trade rules that will support 21st-century commerce and providing ambitious liberalization of trade and investment, the TPP will strengthen and broaden the mutually-beneficial linkages between our economies; enhance our regional and global competitiveness; support the creation of jobs and new opportunities for young people; promote economic growth and development in our countries; support innovation and help to alleviate poverty; and ensure the greatest benefits for our people.
We are pleased that the negotiated text of the TPP agreement is now available in full for review and consideration before it is signed. We look forward following signature to the expeditious consideration and approval of the TPP, consistent with each of our domestic processes. We will then focus on fully implementing it, so that our consumers, workers, farmers, and businesses both large and small can begin to realise its shared benefits as swiftly as possible and the better future that the TPP represents.
While our focus is on approval and implementation of the results of negotiations with our current partners, we have also seen interest from a number of economies throughout the region. This interest affirms that through TPP we are creating a new and compelling model for trade in one of the world’s fastest growing and most dynamic regions.
We welcome Prime Minister Trudeau to his first TPP Leaders’ meeting after taking office two weeks ago. We also welcome his commitment to have his new government review the agreement and engage in a consultation process.
Source: White House Press Statement, Nov 18, 2015