On the other hand, in addition to the trade in goods, services and investment component,
TPP is said to have a more demanding set of commitments — intellectual property
rights, labour standards, competition policy, investment rules, the environment and the role
of state-owned enterprises. These issues may not have any immediate direct trade-related
aspects but are marketed as relevant in meeting 21st-century challenges. Since TPP comprises
members from different levels of economic development, it will be quite difficult to
reach consensus on optimal standards. This is because different labour laws often function
as part of the comparative advantage enjoyed by low-labour-cost countries, or intellectual
property (IP) regulations may not strike the right balance between owners of IP and users
(Table 2).