MOSCOW (Sputnik) – The Trans-Pacific Partnership agreement spans 12 countries in the Asia-Pacific region. It is expected to create more jobs, raise wages and outline a range of long-term strategic objectives, with a stated goal of achieving regional peace and stability.
Apart from removing tariff barriers, the TPP accord will set rules on regulatory policies within the fast-growing Asia-Pacific region. Abe said he planned to work on these rules together with Washington, according to Japan's national broadcaster NHK.
The agreement, which Washington hopes will expand economic opportunities for US businesses and increase investment in Asia, has faced a certain amount of resistance from China, which is not a partner. Beijing has rolled out a separate project, the Asian Infrastructure Investment Bank (AIIB), to finance infrastructure projects in the region.
