TPP-11 text released

The agreement will enter into force 60 days after at least six member governments or at least 50 percent of signatories – whichever is smaller – complete national ratification procedures.    The Trans-Pacific Partnership (TPP) text was released Wednesday, just over two weeks before the 11-member version of the pact is expected to be signed in Chile on March 8.
   The “text” is only nine pages, and essentially sets forth the parts of the original agreement that will be carried forth by the 11 current members, after the U.S. withdrew from it in January 2017.
   It includes few changes to the original agreement beyond removing references to the U.S., for most chapters, including the chapters on definitions, market access, rules of origin, textiles, trade remedies, sanitary/phytosanitary provisions, technical trade barriers, e-commerce, competition, state-owned enterprises, labor, cooperation and capacity building, competitiveness and business facilitation, development, small and medium enterprises, regulatory coherence and dispute settlement.
   The document also sets forth that, until TPP-11 parties agree otherwise, suspensions of the original text will include portions of text covering express shipments, express delivery services, investment agreements, arbitration, governing investment law, minimum treatment standards for financial services, telecommunications dispute resolution, government procurement, national treatment, patentable subject matter, patent term adjustments, protection of undisclosed pharmaceutical test data, biologics, copyright and related rights’ term of protection, technological protection measures, rights management information, protection of encrypted satellite and cable signals, legal remedies and safe harbors, and transparency and anticorruption, among other language.
   All parties would have to complete respective national legal procedures to reinstate any suspended provisions.
   The agreement will enter into force 60 days after at least six member governments or at least 50 percent of signatories – whichever is smaller – notify the TPP depository in New Zealand in writing about completion of applicable legal procedures. The activated agreement will take effect for any subsequent ratifiers 60 days after their respective legal procedures are completed.