TPP-Pacific Trade Partnership and International Business Research Paper - 1

TPP-Pacific Trade Partnership and International Business - Research Paper Example Trans-Pacific Partnership is also of great interest because of its ambition to extend well beyond the limits of trade and trade policy including other different issues that affects trade agreements. The common issues that are likely to affect TPP are linked to the ambition of TPP to go beyond the limits of trade and its policies including trade in services, intellectual property, and technical barriers to trade. Supply chain complication has been cited as a major challenge likely to face Trans-Pacific partnership especially in this era of global business and cross enterprise collaboration. As stated by Inkyo et al (145), the Supply chain conference held in 2003 had cited development in the digital economy such as cloud computing, green growth and inadequate approaches to ensuring competitive business environment as some of the major challenges that are likely to face TPP. However, according to Deardorff (5), TPP is creating a framework to deal with all concerns and that could be the reason for the long time negotiations. The areas of negations in the Trans-Pacific Partnership include services and investments and other barriers to trade include in services, goods and investments, capacity building, government procurement, custom rules, labor, phytosanitary standards, e-commerce, telecommunications, intellectual property and technical barriers to trade. Researchers and economists have cited a lot of implications of what has been described as â€Å"spaghetti or noodle bowl† problem of overlapping preferential trade agreements (PTA) at the beginning of the year 2012, the world trade organization had reported more than 319 agreements that were already on force. According to Inkyo et al (147), each agreement signed between two or more countries continue to complicate and increases the complexity of the global trading system. The new PTA, Trans-Pacific Partnership that is currently under