The Trans-Pacific Strategic Economic Partnership (commonly known as TPP) is a multilateral economic integration agreement consisting of twelve (12) member countries located in the Pacific Rim: Australia, United States, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Negotiations for the signing of the agreement started at the 2002 Ministerial Meeting of Asia-Pacific Economic Cooperation (APEC) in Mexico, where the representatives of Chile, New Zealand and Singapore expressed their interest in establishing a free trade agreement that would enable them to advance towards economic liberalization well beyond trade barriers and to incorporate the issues of intellectual property, rules of origin and government procurement. After these negotiations, the rest of the countries have gradually expressed their interest in joining and finally sign the agreement in February 2016.

At present, member countries of the TPP cover a market of 800 million people, almost 40% of the world gross domestic product and 23% of global exports, turning the Pacific Rim into the region with the greatest economic dynamism.

The TPP has been considered a 21st century agreement, because its 30 chapters cover not only trade-related aspects, but also issues that have become relevant in the dynamics of modern international trade. In this connection, the agreement includes a set of provisions not incorporated into any other treaty signed so far, namely: anti-corruption provisions, government procurement, climate change, special treatment to small and medium-sized enterprises, corporate social responsibility, and e-commerce.

The TPP is aimed at creating a strong platform for integration in the Asia-Pacific region to boost the trade and economic dynamism of its member countries. Its pioneering and innovative structure points to the establishment of a new order in the signing of new trade agreements and treaties, transcending tariff negotiations and including complementary areas that promote the integration of the signatory countries.

Based on the above, there are considerations to ponder the potential impact of the TPP on international trade of Latin American and Caribbean countries, both individually and through subregional integration agreements. Hence the relevance of diagnoses for the formulation of optimal strategies, depending on the region’s international insertion.