The Trans-Pacific Partnership (TPP) is an agreement to boost trade among 12 member countries in the Pacific Rim that collectively account for almost 40% of world GDP. After lengthy negotiations, an agreement was reached in October 2015 and signed by ministers from member countries in Auckland in February 2016. This is a significant deal that should provide a much needed boost for global trade. However, the full impact of this landmark deal will not be seen for a number of years yet.
This report from the Economist Corporate Network (ECN), sponsored by Baker & McKenzie, looks at how mega-regional trade and investment initiatives in Asia will shape business strategy in ASEAN and beyond. The report is based on a global survey and in-depth interviews.
ASEAN has been at the forefront of the emerging markets. However, with the slowdown of the Chinese economy, ASEAN countries will need to make an extra push.
69% of the respondents think that being a member of the Trans-Pacific Partnership (TPP) will make their countries more attractive to investment opportunities. Around 70% of respondents are already getting ready for China's trade initiative One Belt One Road (OBOR), although it may still be a future project.