The Trans-Pacific Partnership (TPP) was signed on 4 February 2016. It is the end product of five years of negotiations between the 12 participating countries, and more importantly, the largest global trade agreement in the last 20 years. With investment in TPP countries accounting for approximately 45 per cent of all outward Australian investment, it is crucial for global investors to understand how the TPP operates and how it may impact them.
In this first part of a two-part series we look at the protections offered to foreign investors in TPP countries, and the effect of the talked-about investor-State dispute settlement mechanisms. In the second part of our series we will look at the impact of the TPP on business and industry.