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The newly agreed Trans-Pacific Partnership (TPP) will remove the barriers from government procurement, opening up equal market access to tech companies from each of the 12 member countries.
The full text of the notoriously secretive Trans-Pacific Partnership, which aims to regulate trade between Australia, the United States, New Zealand, Canada, Singapore, Vietnam, Malaysia, Japan, Mexico, Peru, Brunei, and Chile, has yet to be published, with the member states only releasing executive summaries thus far.
“The TPP includes provisions that focus on procedures to ensure fair, transparent, and non-discriminatory treatment of suppliers in government procurement,” the Australian Department of Foreign Affairs and Trade said in its TPP overview [PDF].
“It seeks to deliver improved access for Australian suppliers to the government procurement markets in the other 11 Trans-Pacific Partnership countries.”
According to Foreign Affairs, Trade, and Development Canada’s summary of the TPP’s government procurement chapter, government purchasing constitutes a significant portion of each country’s revenue.
By removing foreign barriers to this, it will improve suppliers’ chances of securing million-dollar contracts throughout the Pacific Rim countries, which will in turn encourage competition and ensure that all governments gain the best value for their taxpayers’ dollars.
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