Free-Trade Agreement Negotiations: Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership

Jelisavac Trošić, Sanja (2015) Free-Trade Agreement Negotiations: Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership. In: Proceedings of Round Table Conference Major International Issues in the 21st Century from a Perspective of Japan and Europe, [September 15, 2014]. Global Resource Management Program, Doshisha University; Institute of International Politics and Economics, Kyoto; Belgrade, pp. 146-159. ISBN 978-86-7067-211-6

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Abstract

Negotiations are currently underway on the creation of two regional free-trade agreements. First agreementTheTrans-Pacific Partnership (TPP) is negotiating between United States and 11 countries throughout the Asia-Pacific region including Japan. Second one is an agreement between the United States and European Union also called Transatlantic Trade and Investment Partnership (TTIP) orsometimes Transatlantic Free Trade Area (TAFTA). The both negotiations initiated by the United States are very ambitious, comprehensive and should provide new market access. When these negotiations are finalized the emerging agreements will have a major impact on international trade. This impact will be felt not only in the member countries of free trade agreements, but will also have an indirect impact on the countries that are outside of the newly formed regional agreements.

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