Question

With reference to the ‘Trans-Pacific Partnership’, consider the following statements:

1. It is an agreement among all the Pacific Rim countries except China and Russia.
2. It is a strategic alliance for the purpose of maritime security ONLY

Which of the statements given above is/are correct?

• A.
  ​​1 only
• B. 2 only
• C. Both 1 and 2
• D. Neither 1 nor 2

Answer 1

The correct option is D Neither 1 nor 2

The Trans-Pacific Partnership (TPP), also called the Trans-Pacific Partnership Agreement, was a proposed trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States signed on 4 February 2016 in Auckland.

The founding members of the Pacific Rim group are - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. The 12 nations account for some 40% of the world's economy.

The objective is to promote economic growth,support the creation and retention of jobs; enhance innovation, productivity and competitiveness; raise living standards; reduce poverty and promote transparency, good governance, and enhanced labour and environmental protections.