If it seems like you’ve been hearing TPP this and Asia trade deal that every few months for years now, you wouldn’t be wrong.
The Trans-Pacific Partnership negotiations have been ongoing for some five years now, but the agreement was confirmed by all 12 participants today, marking the largest trade deal ever signed. It now awaits ratification by governments in each country, which include Japan, Australia, New Zealand, Canada, and the United States. Taken together, the countries involved make up forty percent of global trade and a combined population of some 800 million people.
Viewed through those numbers – and understanding that the agreement covers everything from the agriculture and automotive sectors to pharmaceuticals and entertainment. The last two in particular have perhaps unexpectedly overlapping interests, with intellectual property rights at the forefront of negotiations for drug patents and movie copyright.
With such a vast marketplace in play and the potential to synchronize creative rights across some key countries, it’s no surprise that the agreement’s announcement is welcome news for North America’s creative sector.
Echoing the sentiments of movie makers around the country, MPAA Chairman and CEO, Senator Chris Dodd, had this to say about the agreement:
“Enacting a high-standard TPP is an economic priority for the American motion picture and television industry, which registered nearly $16 billion in exports in 2013 and supports nearly two million jobs throughout all fifty states. We look forward to reviewing the agreement’s final text.”
The proposed agreement creates a robust environment in which to ensure creativity is protected, and brings profits only to those who work hard to bring us the kind of movies and television productions that we enjoy every day. It sets a firm foundation for creators to sell and distribute their work, with less worry that international infringement will prevent them from taking the proceeds and channeling them into new productions.
Unsurprisingly, longstanding opponents of this landmark trade agreement are once again trotting out their familiar mix of hyperbole and confused hysteria. The myths are as many as those who believe the negotiating behind closed doors marks the TPP out as some kind of clandestine discussion, when in reality the final version will now face public and political scrutiny in every country that it will effect.
This is to say nothing of the many distributed earlier version that have already made the rounds after previous meetings between the participating nations, which have served to make the agreement a comprehensively reviewed document, even before it was anywhere near a reality.
As every media outlet explains, the TPP provisions will now face the full review that each respective member’s democratic process allows for. The negotiations were behind closed doors because they were just that, negotiations. If sufficient opposition exists in any participating nation, the agreement will not be ratified and will be forced to reconsider any sticking points.
If not, and if every government successfully explains to its citizens just how valuable the deal will be to their economic prosperity and protection of intellectual property, we will all witness an historic trade agreement that stands to secure and boost economies around the Pacific Rim for years to come.