The TPP is being promoted as a “Gold-standard FTA” and is expected to develop a
level playing field for businesses in the Asia-Pacific by focussing on liberalising ‘behind
the border’ measures for cross-border trade and investment, and strengthening regulatory
reforms. However, currently, the nine partners are at different levels of economic development11.
An unprecedented range of WTO Plus issues covered under TPP will require significant
reforms in the domestic industrial and economic policies of most members. These
will make negotiations tough, especially for developing countries in need of fundamental
economic reforms and for economies that comprise largely of state-owned enterprises
(SOEs).