Obama Said The TPP Foundation Framework Reached &Nbsp; It Will Become A Legal Text Before Next Year.

US President Obama said at the APEC summit of industrial and commercial leaders 12 days ago that he and other countries

Obama said on that day that the United States is a Pacific power, and the United States believes there is nothing else in the world.

He said that the "p Pacific Strategic Economic Partnership Agreement" will create a high level of trade agreement, which is not only applicable to the Asia Pacific region, but also to the whole world.

After reaching the TPP basic framework, Obama told the leaders of the eight countries that TPP will help the us achieve the goal of doubling exports, and will support millions of jobs in the United States.

Obama said that the integration of all economies will become the fifth largest trading partner of the United States, and the United States has achieved an annual trade volume of 200 billion dollars with these economies.

The content of the TPP framework was obtained by reporters. The United States, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam drafted a high standard trade agreement to solve the trade challenges and problems in twenty-first Century.

The basic framework points out that TPP's core topics include trade agreements, industrial products, agriculture, textiles, intellectual property rights, technical barriers to trade, labour and the environment.

Other topics also include some cross cutting issues that have not been identified in the past trade agreements, such as strengthening the regulatory system of the TPP national market, so that American companies can operate seamlessly in the TPP market; and some new trade issues, such as guaranteeing the level competition between state-owned enterprises and private enterprises, and not placing US companies at a competitive disadvantage.

The framework agreement also pointed out that it is necessary to achieve a comprehensive trade access to eliminate tariffs and other investment barriers, and to achieve regional agreements to promote the development of product supply chains in the region.

The final legal document will cover all commercial relations between TPP countries.

According to the TPP framework, the nine countries welcome other countries that are interested in joining the TPP. However, other countries should negotiate with the current participating countries one by one. After the end of the bilateral negotiations, all the current agreement participants will unanimously decide the new members.

Next, the leaders of nine TPP countries have instructed their negotiators to meet earlier this December for a new round of negotiations.