In 2015, an agreement on a trans-Pacific trade partnership was developed and concluded. It happened in October. Within the framework of this partnership, 12 countries had to organize free trade zones. However, in January 2017, the new US President, Donald Trump, withdrew from the agreement.
Now the proposal was revised for 11 remaining countries. And the foreign ministers of the countries from Asia and America signed it without US participation. The Pacific countries account for 40% of the world economy and a third of world trade.
“New modern rules of international trade … Just when some are inclined to protectionism … Who would have thought that we would sign this agreement not in the US, but in Chile,” Chile’s Foreign Ministry published in its Twitter account.
The final agreement was signed by Canada, Australia, New Zealand, Singapore, Malaysia, Brunei, Vietnam, Japan, Mexico, Chile and Peru.
