TPP most intrusive economic deal in history–IBON

Features Philippines Dec 4, 2015 at 3:49 pm

ibon-foundation-logoThe Trans-Pacific Partnership (TPP) agreement, which is likely to be tackled on the sidelines of the upcoming Asia Pacific Economic Cooperation (APEC) high-level meeting, will not benefit backward and underdeveloped countries like the Philippines. Research group IBON stressed that the Philippines should not join the TPP despite the Aquino government’s insistence on this.

After years of being negotiated under extreme secrecy, the administration of Pres. Barack Obama finally released last week the 5,000-page text of the deal approved by negotiators of the United States (US), Japan, Canada, Australia and eight (8) other Asia and Pacific economies including some members of the Association of Southeast Asian Nations (ASEAN). The TPP also builds on discussions and technical work in the APEC, IBON observed.

Hailed by the US as a “high standard trade agreement”, the TPP is the most intrusive economic deal in history. According to IBON, the deal removes countries’ sovereignty to ensure that foreign corporations operating in the national territory contribute to real national development.

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