Executive summary
This report provides an evaluation of advantages and disadvantages of the Trans Pacific Partnership (TPP) and analyzes what impact it has on Magna, global automotive supplier headquartered in Ontario, Canada.
Magna through the TPP, a quite controversial agreement, that can harm some industries in Canada, will get a lot of benefits. The company is present in automotive sector, which is an export-based industry (85%). The TPP will increase its presence at previously closed Asia markets that are growing fast today. The new rule of origin will encourage manufacturers from TPP states to use components and parts produced by Magna when they are producing goods that they export to other TPP countries. The pact will expand Magna’s …show more content…
The paper outlines goal of the company to expand its markets and describes features of the TPP to determine the nature of impact it will have on the Canadian company.
The information used in this report was collected by consulting official web pages of Magna, the agreement’s text, newspapers and other articles providing information on the Agreement. …show more content…
It designs, develops and manufactures automotive systems, assemblies, modules and components, and assembles complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks in North America, Europe, Asia and South America. (Magna)
On February 4, 2016, TPP Ministers signed the TPP Agreement in Auckland, New Zealand. The TPP is one of the world’s largest trade agreement that was signed by 12 Pacific Rim countries. The countries that are members of TPP: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States of America, Vietnam. (Office of the United States Trade Representative) The countries within its scope account for 40 per cent of the world’s economic output. (Zacks) However, the fact that the pact was signed doesn’t mean it will be ratified.
The primary goal of the TPP is to eliminate tariffs and other barriers to trade and “to promote economic integration to liberalise trade and investment, bring economic growth and social benefits, create new opportunities for workers and businesses, contribute to raising living standards" among member countries. (New Zealand Ministry of Foreign Affairs and
This report provides an evaluation of advantages and disadvantages of the Trans Pacific Partnership (TPP) and analyzes what impact it has on Magna, global automotive supplier headquartered in Ontario, Canada.
Magna through the TPP, a quite controversial agreement, that can harm some industries in Canada, will get a lot of benefits. The company is present in automotive sector, which is an export-based industry (85%). The TPP will increase its presence at previously closed Asia markets that are growing fast today. The new rule of origin will encourage manufacturers from TPP states to use components and parts produced by Magna when they are producing goods that they export to other TPP countries. The pact will expand Magna’s …show more content…
The paper outlines goal of the company to expand its markets and describes features of the TPP to determine the nature of impact it will have on the Canadian company.
The information used in this report was collected by consulting official web pages of Magna, the agreement’s text, newspapers and other articles providing information on the Agreement. …show more content…
It designs, develops and manufactures automotive systems, assemblies, modules and components, and assembles complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks in North America, Europe, Asia and South America. (Magna)
On February 4, 2016, TPP Ministers signed the TPP Agreement in Auckland, New Zealand. The TPP is one of the world’s largest trade agreement that was signed by 12 Pacific Rim countries. The countries that are members of TPP: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States of America, Vietnam. (Office of the United States Trade Representative) The countries within its scope account for 40 per cent of the world’s economic output. (Zacks) However, the fact that the pact was signed doesn’t mean it will be ratified.
The primary goal of the TPP is to eliminate tariffs and other barriers to trade and “to promote economic integration to liberalise trade and investment, bring economic growth and social benefits, create new opportunities for workers and businesses, contribute to raising living standards" among member countries. (New Zealand Ministry of Foreign Affairs and