Trans Pacific Partnership

After years of tense negotiations and deliberation, the Trans Pacific Partnership (TPP) free trade deal was finally struck in October.

The historic trade agreement will boost trade for 12 member countries and cover 40 percent of the world’s economy.

For small businesses in these countries, the deal — pending approval by the individual  nations — will open up new areas of growth opportunities.

Benefits for Small Businesses

One of the most remarkable things about this deal is that, for the first time in any trade agreement, there is “a chapter specifically dedicated to helping small- and medium-sized businesses benefit from trade.”

The Trans Pacific Partnership trade deal will ease trade barriers caused by complex paperwork, red tape, weak logistics services, and even corruption to help businesses get their products faster to market. For small businesses, this could finally bring an end to long and inefficient procedural delays during export.

The agreement will further eliminate more

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Source: Small Business Trends