OECD Secretary-General Gurría hails TPP agreement | WPN World People News

OECD Secretary-General Angel Gurría welcomed the Trans-Pacific Partnership (TPP) trade agreement reached between governments in the dynamic Asia-Pacific region.

The agreement is the culmination of five years of negotiations among 12 countries which together represent 40 percent of the global economy. The deal covers areas such as investment, e-commerce, intellectual property rights, the movement of people and capital, anti-corruption, competition and state-owned enterprises.

“The OECD has a long track-record of supporting market openness,” Mr Gurría said. “The TPP deal is a historic opportunity to create more inclusive growth through trade and investment. It can improve conditions for workers, ensure a cleaner environment and encourage SMEs to thrive - supporting families and national economies alike.”

“OECD work supports and contributes to a common goal of a freer and fairer world trading system. We recognise that the TPP can strengthen the multilateral system as it goes beyond commitments made in the WTO and remains open to additional participation by countries committed to its high standards,” Mr Gurría added.

"This agreement will also have the effect of boosting confidence in the capacity of governments to set and deliver ambitious systemic goals at a time ‎of uneven world economic recovery and when a number of countries, particularly some emerging markets, are facing complex challenges."

Source: Organization for Economic Co-operation and Development