22 - The TPP’s Competition Policy Chapter: Towards Convergence

Summary

This chapter seeks to explain the Trans-Pacific Partnership (TPP) Agreement’s Competition Policy Chapter by providing negotiating context and background. The context is important as Chapter 16 needs to be understood as a Chapter to an agreement of twenty-nine other Chapters. It is also important to understand that it is a Chapter negotiated between twelve economies in the Asia-Pacific with varying competition law and stages of policy development. The chapter will then step-through the Chapter 16 provisions, and outline how the TPP competition policy achieves competition law convergence through upholding fundamental WTO principles of non-discrimination and transparency. It also considers the likely impact of the TPP Competition Policy Chapter on world and regional trade policy-making and rules, regardless of whether the TPP enters into force in the near future. Whilst the TPP contains other new and novel provisions that seek to enhance competition in the region, this chapter focuses on Chapter 16.