One of the world's biggest multinational trade deals, covering 40% of the global economy, has been signed in New Zealand. The Trans-Pacific Partnership (TPP) is meant to facilitate trade and investment between 12 countries across the Pacific Rim. It’s already taken five years of negotiations, and now needs to be ratified by the member-nations that include the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru. There’s widespread opposition to the TPP in many countries, with opponents claiming the deal will benefit big businesses and not workers. The US-led initiative is a key part of President Barack Obama's pivot to Asia, but it has proven to be a controversial issue ahead of elections in November.
FNC proposes Euro-Mediterranean and Gulf AI hub at economic forum
UAE calls for stronger Euro-Mediterranean, Gulf cooperation
Dubai's DGCX to launch region’s first Gold Spot T+0 Contract
AD Ports launches new logistics link between UAE and Iraq
Kuwait plans to boost oil output to 2 million bpd in a week
