Which of the following statements about the Trans-Pacific Partnership

Which of the following statements about the Trans-Pacific Partnership (TPP) is/are correct?

1. The TPP was signed by 12 Pacific Rim nations in the year 2015.
2. The TPP is likely to be a game-changer in global trade as member countries account for about 40 percent of global GDP.
3. India is a founder member of TPP.

Select the correct answer using the code given below.

1, 2 and 3

1 and 2 only

2 and 3 only

1 only

Answer is Right!

Answer is Wrong!

This question was previously asked in

UPSC CDS-1 – 2017

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Statement 1 is incorrect. While negotiations for the Trans-Pacific Partnership (TPP) concluded in October 2015, the agreement was officially signed by the 12 member nations in Auckland, New Zealand, on February 4, 2016. Statement 2 is correct; the TPP member countries together accounted for approximately 40% of global GDP and a significant share of global trade, making it a potentially significant trade bloc. Statement 3 is incorrect; India was not a member or founder member of the TPP. The 12 founding members were Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States.

The Trans-Pacific Partnership (TPP) was a major trade agreement involving countries around the Pacific Rim, but excluded major economies like China and India.

The TPP agreement faced political challenges, particularly in the United States, and the US withdrew from the agreement in January 2017. The remaining 11 countries proceeded to negotiate a revised agreement, known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which came into effect in December 2018.

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